Starent Profits in Q2 645128

TEWKSBURY, Mass. -- Starent Networks, Corp. (Nasdaq:STAR - News), a leading provider of infrastructure solutions that enable mobile operators to deliver multimedia services, today reported financial results for the second quarter ended June 30, 2007. Net revenues for the second quarter of 2007 were $30.9 million, a sequential increase of 12% from the first quarter of 2007 and an increase of 51% from the second quarter of 2006.

Net income for the second quarter of 2007 was $3.4 million, or $0.03 per diluted share, compared to net income of $2.3 million for the first quarter of 2007 and net income of $1.3 million in the second quarter of 2006. Second quarter 2007 results included $3.3 million of non-cash stock-based compensation expenses compared to $1.5 million in the prior quarter and $204,000 in the second quarter of 2006.

Excluding the impact of stock-based compensation in all periods and assuming preferred shares were converted as of the beginning of the applicable period, non-GAAP net income for the second quarter of 2007 was $6.7 million, or $0.11 per share, compared to non-GAAP net income of $3.8 million in the first quarter of 2007 and non-GAAP net income of $1.5 million in the second quarter of 2006.

Starent Networks Corp. (Nasdaq: STAR)