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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: The Phoenix who wrote (56089)	10/11/2000 7:30:50 PM
From: The Phoenix	Read Replies (1) of 63513

More Earnings - RBAK Beats and Makes MONEY! dailynews.yahoo.com Wednesday October 11 5:06 PM ET Redback Networks Posts Unexpected Third Quarter Profit SUNNYVALE, Calif. (Reuters) - Computer networking systems company Redback Networks Inc (NasdaqNM:RBAK - news) on Tuesday posted a third quarter profit that surpassed Wall Street expectations of a loss. Redback posted pro forma net income of $3.2 million, or 2 cents a share, compared with a loss of $569,000, or 1 cent, in the year-ago quarter. The results compared with a consensus analyst estimate for a loss of 2 cents per share, according to First Call/Thomson Financial. Including acquisition-related and stock compensation charges, Redback said the company had a third quarter net loss of $308.1 million, or $2.50 a share, expanding from a net loss of $1.6 million, or 2 cents a share, for the same period the prior year. Net revenues for the third quarter 2000 were $80.6 million, up 291 percent from $20.6 million in 1999.

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