Vyyo Q2 Revenues Dip, Losses Narrow
Vyyo ended the quarter with $26.2 million in cash and cash equivalents, down from $31.2 million at the end of the previous period.
Vyyo, which recently boosted its cable credibility by appointing two former Charter Communications Inc. execs to the roles of CEO and CTO, said Cox Communications Inc. has expanded the deployment of the vendor's 3GHz UltraBand passive devices and its T1-over-HFC systems in 16 markets. (See Vyyo Adds New CEO, Vice Chairman and Feldman Joins Vyyo.)
Among other deployment traction, StarHub of Singapore has plans in place to install Vyyo gear in greenfields. Vyyo's presence there could expand significantly if StarHub is successful in its proposal for a government-backed Next Generation National Backbone Network. (See StarHub Goes Out-of-Band With Vyyo.)
Even with that traction, Vyyo disclosed last month it had to lay off 16 percent of its workforce. That cutback, which affected fewer than 20 employees, occurred primarily at the company's Israel-based R&D unit. Despite those layoffs,the company does plan to beef up its cable sales and marketing activity. (See Vyyo Cuts Back .)
Early Monday, Vyyo shares were trading at $5.99 each, down 59 cents, or 8.97 percent.
— Jeff Baumgartner, Site Editor, Cable Digital News