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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: 100cfm who wrote (27783)	7/12/2000 6:28:17 PM
From: MarkR37	Respond to of 54805

<<Redback Networks Inc. Announces Record Second Quarter Revenue WEDNESDAY, JULY 12, 2000 4:21:00 PM EST SUNNYVALE, Calif., Jul 12, 2000 (BUSINESS WIRE) -- Q2 2000 Net Revenues of $48.7 Million Provide 340% Growth Over Q2 1999 and 43% Growth Over Q1 2000; Q2 Pro Forma Net Loss Per Share of $0.05 Redback Networks, Inc., RBAK, a leading provider of advanced networking solutions, today reported record revenues for the quarter ended June 30, 2000. Net revenues for the second quarter of 2000 were $48.7 million, compared with $11.1 million for the same period in the prior year, an increase of 340 percent. Pro forma net loss for the second quarter of 2000 was $5.7 million or $(0.05) per share, which excludes acquisition-related and stock compensation charges. This compares to the second quarter of 1999 pro forma net loss of $2.6 million or $(0.06) per share. Before pro forma adjustments, net loss for the second quarter of 2000 was $286.7 million or $(2.41) per share compared to a net loss of $3.7 million or $(0.08) per share for the same period in the prior year. All share and per share amounts reflect the Company's two-for-one stock split effective April 3, 2000. "The second quarter of 2000 was a period of strong execution for Redback," said Dennis Barsema, chief executive officer of Redback Networks. "The Company continued its momentum in the metropolitan optical networking market with the launch and first production shipments of the SmartEdge 800," stated Barsema. "The SmartEdge platform has been well received by Redback customers and prospects, and we have received multi-million dollar orders from both carriers and service providers." Redback completed its testing of the SmartEdge platform and shipped its first production SmartEdge 800 units in the second quarter, with general availability scheduled for the third quarter. "In the subscriber management market, Redback was buoyed by strong demand for our existing SMS platforms, and also achieved a major milestone in shipping the first production SMS 10000 systems," said Vivek Ragavan, president and chief operating officer of Redback. In the second quarter, Redback expanded its roster of leading carrier and service provider customers with the addition of such established carriers as France Telecom and CenturyTel, as well as emerging CLECs and service providers such as Primus Telecommunications in North America and riodata and First: Telecom in Europe. Continuing its leadership in the subscriber management market, Redback began shipping the SMS 10000, the industry's most powerful subscriber management system, which supports up to 100,000 active and 500,000 provisioned subscribers. www2.marketwatch.com{6C36B6D0-3F78-4656-9351-767800A6AFC4}>> I pulled this off of Motley Fool Message board. I think this is one to watch.