Digital Lightwave Reports Record First-Quarter Results
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Revenues up 129% Year over Year
EPS of $0.14
CLEARWATER, Fla.--(BUSINESS WIRE)--April 18, 2000--Digital Lightwave©, Inc. (Nasdaq:DIGL - news), a leading provider of innovative optical networking products and technology, today announced financial results for the first quarter ended March 31, 2000.
First-quarter revenues were $18.6 million, up 129 percent from revenues of $8.1 million for the first quarter of 1999 and up 6 percent sequentially from $17.5 million reported for the fourth quarter. Net income was $4.3 million, or $0.14 per share (diluted), compared with a net loss of $1.6 million, or a loss of $0.06 per share for the year-earlier quarter and up from $3.9 million, or $0.13 per share (diluted), for the fourth quarter.
``We are pleased with the first-quarter results, particularly with sales during the quarter of our high-speed OC-48 products, and order flow for new products like the portable Network Information Computer© 10-G (NIC(TM) 10-G), designed for OC-192 fiber optic network performance analysis,' said Gerry Chastelet, chairman, president and chief executive officer of Digital Lightwave. ``Although the first quarter has historically been the slowest in our industry, sales exceeded our expectations, and we sustained profitable revenue growth for the fourth consecutive quarter. With our Network Information Computers (NICs) and network monitoring systems -- Network Access Agents(TM) (NAAs(TM)) -- Digital Lightwave is uniquely positioned to benefit from increasing deployment of faster transmission speeds, as well as the growing size and complexity of the optical network infrastructure.'
During the first quarter, Digital Lightwave continued to broaden its customer base, adding several new accounts in optical networking, broadband services, metropolitan-area networks, and Internet services segments. Key customers taking product deliveries during the quarter included Cisco Systems, Electro Rent, GTE, Level 3, Lucent Technologies, MCI WorldCom, Nortel Networks, and Qwest.
Quarterly Business Highlights
Quarterly business highlights during the quarter included:
Nortel Networks' selection of the NIC as product of choice for
high-speed fiber-optic network testing
Strong initial market acceptance of NIC 10-G, the industry's
first portable OC-192 optical network diagnostic product,
launched in January 2000
The largest single order for OC-48 NICs from Nortel, as part
of its build-out plans in North America
Significant orders for NIC 10-G by Technology Rentals &
Services, Electro Rent and others.
Nortel Networks Places $6.4-Million Order for Digital Lightwave's Network Information Computers
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