7/18....DIGL..Reports Record Second-Quarter Revenues and Earnings
Revenues Increase 106 Percent Year Over Year
EPS of $0.20
CLEARWATER, Fla.--(BUSINESS WIRE)--July 18, 2000--Digital Lightwave®, Inc. (Nasdaq:DIGL - news), a leading provider of innovative optical networking products and technology, today announced financial results for the second quarter ended June 30, 2000.
Second-quarter revenues were $22.1 million, more than double the $10.7 million reported for the second quarter of 1999. Net income was $6.2 million, or $0.20 per share (diluted), compared with $0.1 million, or $0.00 per share, for the year-earlier quarter.
Revenues for the first six months of 2000 were $40.7 million, up 116 percent from $18.8 million for the first half of 1999. Net income for the six months was $10.4 million, or $0.33 per share (diluted), up from a net loss of $1.6 million, or a loss of $0.06 per share, for the same period a year ago.
``The increased demand for our portable high-speed fiber-optic network analyzers, particularly our OC-48 and the new OC-192 Network Information Computers® (NICs(TM)) contributed to the record quarterly revenues,'' said Gerry Chastelet, chairman, president and chief executive officer of Digital Lightwave. ``In addition to the company's strong financial performance during the quarter, we also introduced two new important products--an international version of the NIC and a new portable DWDM analyzer extending our Network Access Agent(TM) product family. With the strength of our expanded product offerings and the initiatives we've put in place during the first half of the year, we feel well positioned to capitalize on compelling opportunities within the high-growth optical networking industry.''
During the second quarter, Digital Lightwave continued to expand its customer base, adding new accounts in the optical networking, communications service providers, broadband services, metro networks, e-business, financial services, and Internet services segments. New customers included Global Media, QTera, 3Com, and 360networks.
Key existing customers taking product deliveries during the quarter included Alcatel, Ameritech, AT&T, Bear Stearns, CIENA, Cisco Systems, Genuity (formerly GTE Internetworking), Level 3, Lucent Technologies, MCI WorldCom, Nortel Networks, Tellabs, and Qwest.
Quarterly Business Highlights
Quarterly business highlights during the quarter included:
-- Introduction of the industry's most comprehensive portable DWDM
analyzer--the DCA 425(TM)--a product based on Network Access Agent
technology, which provides network technicians with a fully
integrated DWDM installation and provisioning system
-- Introduction of a portable fiber-optic analyzer for international
network monitoring and diagnostics--the NIC 2.5G(TM)--enhancing
the current NIC family of products and expanding global market
opportunities
-- Significant orders for new OC-192 NIC from Lucent ($3.7 million),
Nortel Networks ($2.9 million), and other customers, which
commenced shipping during the quarter
-- Strategic partnership with Network Associates/Sniffer
Technologies, a leading provider of high-speed network and
application management solutions for e-business, to optimize
optical Internet performance through product integration with
Digital Lightwave's DWDM analyzers.
About Digital Lightwave, Inc.
Digital Lightwave serves the growing fiber-optic networking industry--high-speed telecommunications networks based on fiber-optic technology--with products and technology that monitor, maintain and facilitate the management of voice, data and multimedia communications networks. Digital Lightwave customers include leading telecommunications service providers and equipment manufacturers. The company is headquartered in Clearwater, Florida, and can be located on the Internet at lightwave.com. |
