RadiSys Reports Q3

Revenue was of $83.6M for the quarter ended September 30, 2007

November 1, 2007

2 Min Read

HILLSBORO, Ore. -- RadiSys® Corporation (Nasdaq:RSYS), a leading global provider of advanced embedded solutions, today announced revenues of $83.6 million for the quarter ended September 30, 2007 and a net loss of $2.5 million or $0.11 per share. Non-GAAP net income for the third quarter was $2.8 million or $0.11 per diluted share. Non-GAAP results in the third quarter excluded a loss of $0.22 per share, primarily attributable to the impact of acquisition-related expenses and stock-based compensation expense. Cash and investments increased by $8.9 million in the third quarter, excluding the Intel Modular Communications Platform Division (MCPD) acquisition cash outlay of $31.8 million.

Commenting on the financial results for the quarter, Scott Grout, President and CEO stated, “I am pleased with our results in the third quarter. We grew revenues by 11% sequentially, and our non-GAAP earnings were up nicely from the prior quarter driven by higher revenues and an improved gross margin rate. We are also excited about our recent acquisition of the ATCA and cPCI assets of Intel’s MCPD business. This acquisition further solidifies our leadership position in ATCA and communications platforms, broadens our base of customers and enhances our global operations and market penetration. The early stages of the integration are going well, and we currently project that this business will be cash flow positive in the fourth quarter.”

Mr. Grout went on to say, “We’ve also seen continued strength in our design win performance over the past two quarters. Our net cumulative design wins increased since April to an estimated range of $725 to $825 million. In the third quarter, we were awarded business in applications such as medical imaging, UMA (Unlicensed Mobile Access) platform, echo cancellation, wireless gateway, network security, test and measurement and military. We were particularly pleased with the level of wins in medical imaging with our new standards-based server products. We also experienced robust design win activity in the Asia Pacific region and in follow-on design wins with existing customers. Our net cumulative design win estimate includes wins since 2005 and is based on non-committed projected revenues through the first three years of our customers’ production and deployment. The amount and timing of meaningful deployments is not certain.”

Radisys Corp. (Nasdaq: RSYS)

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