Joe re. Q3 results:
Rev. 129MM, a 6% increase in 3Q year over year. For 9 months, Rev. was $460MM, compares to $280MM last year period, an increase of 47%.
Shipped to 11 customers, recogn. revenue from 3 lines: 40 channel, original 16 chann, and now have recogn. revenue on the Firefly/Metro (local loop).
Building international presence. 25% this quarter, up both in real dollars and as a percent. of revenue.
Some WCOM revenue, not very significant.
Net income for 9 months up 7%, at 89MM. Less $20.6MM Pirelli settlement.
EPS was .15/share, excluding 1 time charges. Was .29 in 2Q. For 9 months, was .81/share.
Gross profit: 45%. Shows impact of compet. pressures and higher unabsorbed mfg. costs due to decline of shipments. We are resetting our gross margin target at 45-50. Short term: below this range. |
