Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Redback Networks, Inc. (RBAK) -- Ignore unavailable to you. Want to Upgrade?

To: StormRider who wrote (1908)	1/15/2003 5:54:14 PM
From: StormRider	Read Replies (1) \| Respond to of 1956

Redback sees Q1 revs rising, gets Nasdaq notice Wednesday January 15, 5:47 pm ET SAN JOSE, Calif., Jan 15 (Reuters) - Network equipment maker Redback Networks Inc. (NasdaqNM:RBAK - News) said on Wednesday it expects current first-quarter revenues to grow 5 percent to 10 percent over the prior quarter and it had been notified by the Nasdaq exchange its shares may be subject to delisting. The company, whose shares spent a good part of the second half of 2002 under $1, said it would appeal the Nasdaq notice. The shares closed on Wednesday at $1.18, up 6 cents, or 5.4 percent. Redback, in which Finland's Nokia (NYSE:NOK - News; NOK1V.HE) last year bought a 10 percent stake, earlier on Wednesday reported fourth-quarter revenues of $27.6 million, down from $40.2 million a year earlier, but up from $17.4 million in the prior quarter. San Jose, California-based Redback posted a fourth-quarter net loss of $34.2 million, or 20 cents a share, compared with a net loss of $99.2 million, or 67 cents a share, a year earlier. The company credited the narrower net loss to deep cost cuts. Redback, whose rivals include network industry leaders Cisco Systems Inc. (NasdaqNM:CSCO - News) and Juniper Networks Inc. (NasdaqNM:JNPR - News), reported a loss excluding charges of $26.8 million, or 15 cents a share, compared with a loss before items of $29.8 million, or 20 cents a share, a year earlier. Analysts had, on average, expected a loss before charges of 15 cents a share on revenues of $26.1 million, according to Thomson First Call.