Product category: CompactPCI Boards and Assemblies
News Release from: Interphase Corp
Edited by the Electronicstalk Editorial Team on 30 April 2007
Networking company reports declining fortunes
Interphase's first-quarter revenues were significantly affected by a decrease in broadband telecom revenues
Interphase Corporation has reported financial results for its first quarter ended 31st March, 2007. Revenues for the first quarter of 2007 were US $5.1 million compared to US $8.2 million in the first quarter of 2006. Revenues for the quarter were also down sequentially when compared to revenues of US $8.1 million for the fourth quarter of 2006.
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Revenues in the quarter were significantly affected by a decrease in broadband telecom revenues, which were US $4.2 million in the first quarter of 2007 compared to US $5.9 million for the same period in 2006.
In addition SlotOptimiser revenues decreased to approximately US $400,000 for the first quarter of 2007, compared to approximately US $900,000 for the first quarter of 2006.
All other revenues for the company were approximately US $500,000 for the first quarter of 2007 compared to approximately US $1.4 million for the first quarter of 2006.
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Gross margin for the first quarter of 2007 was 53% compared to 51% for the first quarter of 2006.
The company reported a first quarter 2007 net loss of US $1.9 million, or (US $0.30) per share, as compared to net income of US $310,000, or US $0.05 per share in the first quarter of 2006.
Included in the loss for the quarter was a nearly US $700,000 year over year increase in research and development investment as the company continues to prepare for several new product introductions and a number of field trials scheduled for later this year.
The company says its balance sheet continues to be strong with a working capital position of US $25.3 million, including cash and marketable securities of US $21.5 million on 31st March, 2007.
'The significant slowdown in telecommunications spending together with the ongoing merger activity at our top customers resulted in disappointing financial performance this quarter', said Gregory Kalush, CEO and President of Interphase.
'However, we are encouraged by this quarter's additional design wins for our AdvancedTCA 10Gbit/s carrier blade, our PCI-e based T1/E1 solutions and our gateway products'.
'The continued interest in our products from our customers and our strong execution with new design wins across our entire product line is helping expand and diversify both our customer and product base'.
'During the quarter, we also introduced its first high-performance multi-core and multi-processor AdvancedTCA embedded processing blade based on the Freescale Power architecture'.
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