Redback sees flat to slightly higher revenues
SAN JOSE, Calif., Jan 16 (Reuters) - Networking company Redback Networks Inc. (NasdaqNM:RBAK - news) said on Wednesday it sees fiscal first-quarter revenues flat to slightly up from the previous quarter.
Redback Chief Financial Officer Dennis Wolf told analysts on a conference call that the San Jose, California-based company sees fiscal first-quarter revenues flat to slightly up from $40.2 million in the fourth quarter. He said most analysts were expecting a range of flat to up 5 percent.
He also said for fiscal 2002 the company does not disagree with the range of most analysts of $200 million to $240 million, but it was too early to give specific guidance. Wolf said the expected results indicate Redback will hit a break-even point on cash flow in the latter part of 2002.
Redback, which makes gear for broadband service providers to provide high-speed online access to corporate networks, said on Wednesday its fourth-quarter operating loss was $29.76 million, or 20 cents a diluted share, compared with a profit of $7.84 million, or 5 cents a diluted share, a year earlier.
Analysts polled by research firm Thomson Financial/First Call had on average expected Redback to post a pro forma loss, excluding goodwill, of 21 cents a share, with individual estimates ranging from a loss of 19 cents to a loss of 28 cents.
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