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Earnings reports

Redback Reports Q3

SAN JOSE, Calif. -- Redback Networks Inc. (NASDAQ:RBAK - News), a leading provider of next generation broadband networking systems, today announced its third quarter results for the period ending September 30, 2006. Net revenue increased 95 percent to $70.9 million for the third quarter of 2006 compared to $36.4 million for the same quarter last year. Net revenue was up 4 percent for the third quarter of 2006 compared to the second quarter of 2006. Redback Networks generated $4.5 million in cash in the third quarter of 2006, boosting its overall cash total to $176.0 million. Redback Networks also added 18 new customers in the third quarter for its SmartEdge® family of multi-service edge routers, including a top 20 carrier worldwide. In less than two years, Redback has won more than 200 SmartEdge customers worldwide, including 12 of the largest 20 carriers. Redback has more than 500 SmartEdge and SMS customers worldwide, including 15 of the 20 largest carriers.

"On a worldwide basis, Redback continues to drive the wire-line carrier market in the deployment of triple-play networks," said Kevin DeNuccio, president and chief executive officer, Redback Networks. "Broadband networks are becoming more video-centric and we believe Redback and SmartEdge technology are at the center of a paradigm shift in network routing to multi-service broadband networks."

Redback Networks Inc.

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