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Earnings reports

Carrier Access Reports Q3

BOULDER, Colo. -- Carrier Access Corporation (NASDAQ:CACS - News), a manufacturer of broadband communications equipment, today reported third quarter 2006 revenue of $16.1 million, down approximately 23% from $20.9 million reported in the third quarter of 2005. Revenue for the nine months ended September 30, 2006 was $62.9 million, up approximately 15% from $54.5 million reported from the comparative nine months ended September 30, 2005.

On a GAAP basis, net loss for the third quarter of 2006 was $(5.5 million), or $(0.16) per diluted share as compared with a GAAP net loss of $(837,000), or $(0.02) per diluted share for the third quarter of 2005. The GAAP net loss for the nine months ended September 30, 2006 was $(6.3 million), or $(0.19) per diluted share, compared with a GAAP net loss of $(7.3 million) or $(0.21) per diluted share for the comparative nine months ended September 30, 2005.

Non-GAAP net loss in the third quarter of 2006 was $(4.5 million), or $(0.13) per diluted share, compared to a non-GAAP net loss of $(530,000) or $(0.02) per diluted share for the third quarter of 2005. Non-GAAP net loss for the nine months ended September 30, 2006 was $(3.5 million) or $(0.10) per diluted share, compared to a non-GAAP net loss of $(6.4 million) or $(0.18) per diluted share for the nine months ended September 30, 2005. Non-GAAP financial measures exclude stock-based compensation expense and amortization of purchased intangibles, including any income tax effects.

Carrier Access Corp. (Nasdaq: CACS)

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