ECI Telecom reported Q1 revenue of $162 million, an 11% increase from the $145 million recorded in the first quarter of 2005 and compared with $169 million for the fourth quarter of 2005. Net income (GAAP) reached $3.1 million, or $0.03 per share on a fully diluted basis.
Some highlights:
- Revenues for the Optical Networks Division totaled $89 million for the first quarter of 2006, up 17% from the year ago period and up $2 million from the preceding quarter.
- Revenues for the Broadband Access Division totaled $62 million for the first quarter of 2006, down 1% from the year ago period and $6 million less than in the previous quarter. The decline in the division’s revenues resulted entirely from the conclusion of deliveries under the contract with Chungwha Telecom in Taiwan.
- Revenues for the Data Networking Division (formerly Laurel Networks) totaled $2.1 million for the first quarter of 2006, up slightly from the previous quarter, while the operating loss was $9.5 million, compared to $8.7 million in the previous quarter, reflecting the still relatively low revenues and continued intensive R&D efforts currently underway in the division.
Rafi Maor, ECI Telecom President and CEO stated, “The demand for ECI products continues to be strong and order intake for the quarter enabled us to record year-over-year revenue growth and further build our backlog. This growth is driven primarily by the continued deployment of advanced triple play networks by our major customers and by continued strong demand for our leading cellular backhaul solutions, especially in emerging markets, where the growth of the cellular industry continues to be strong.”http://www.ecitele.com