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TMCNet: BigBand Networks Q3 net income

[October 31, 2008]

BigBand Networks Q3 net income

Oct 31, 2008 (Datamonitor via COMTEX) --
US-based network solutions provider BigBand Networks has reported net income of $3.1 million for the third quarter of 2008, compared to net loss of $12.2 million reported for the corresponding period of 2007.

For the third quarter of 2008, total revenues were $48.3 million, a 25% increase from $38.5 million reported in the same period of 2007. The company also posted gross profit of $28.56 million, compared to $13.7 million reported for the same period of 2007.


For the first nine months of 2008, the company posted net income of $2.45 million, compared to net loss of $11.56 million during the same period of 2007. The company posted revenues of $131.2 million for the first nine months of 2008, compared to $145.84 million for the corresponding period in 2007. Grosss profit for first nine months of 2008 increased to $78.3 million from $73.18 million in the corresponding period of 2007.

Amir Bassan-Eskenazi, president and CEO of BigBand Networks, said: "In the quarter, we grew our footprint across all of our solutions - Digital Simulcast, Telco TV and our SDV solutions. Importantly, we have made great progress by achieving key design wins in the large IPTV market, which we expect will contribute to our product and regional diversification strategy in 2009. As we look ahead, we are cautious about the economic environment, but confident in the long-term growth prospects for our business."

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