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Optical/IP

Q3 Tales

12:50 PM -- SAN JOSE, Calif. -- Home -- Ethernet Expo and TelcoTV were fun, but you can't beat the Stay-at-Home Expo. There's no one else around, I can blare my new Fred Frith/Evelyn Glennie CD as loud as I want, and the (good) coffee is "free." Ahhh.

Catching up on earnings after spending yesterday in transit...

Foundry Networks Inc. (Nasdaq: FDRY) looks like the day's big winner, with shares up $1.89 (10.5%) to $19.90. Looks as if they scored well on all fronts. Earnings and revenues beat expectations, gross margins were up, and cashflow was good, CEO Bobby Johnson said on the earnings call.

Foundry's router sales were up 40 percent -- to 17 percent of total revenue -- as the XMR 32000 and MLX-32 started bringing in revenue. The service provider market is becoming important to Foundry again.

For the sake of gratuitous imagery, here's what Foundry's stock has done this year:

Ikanos Communications Inc. (Nasdaq: IKAN) did pretty well for itself, too, although it's still losing money -- 17 cents per share, compared with expecations of 19 cents. The stock was up 15 percent this morning but has settled to being up 3 percent.

CEO Mike Ricci peppered the Ikanos conference call with evidence of design wins all over the globe, although he didn't name most of the customers or carriers involved. I'll have to take a closer listen to that one later today.

I've had time to only glance at the Bookham Inc. (Nasdaq: BKHM; London: BHM) results but am curious to see what new CEO Alain Couder comes up with, in the long run. Its stock is doing all kinds of bouncing today -- the effect of having low trading volume? -- and is basically flat.

Plenty to do today, including leftover notes from TelcoTV. Back to work.

— Craig Matsumoto, West Coast Editor, Light Reading

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