ECI Telecom reported Q3 revenue of $105 million, compared to $102 million in Q2 2003 and $147 million in Q3 2002. Gross profit increased to $40.0 million (38.3% of revenues) compared to gross profit of $37.3 million (36.7% of revenues) in Q2 and $52.4 million (35.6%) in Q3 2002. The operating loss for Q3 2003 was $19.1 million compared to $34.3 million in Q2 and an operating loss of $42.0 million in Q3 2002. The net loss for the third quarter of 2003 was $14.7 million, or $0.14 per share.
Revenues of the Optical Networks Division increased 19% sequentially to $47.0 million from $39.6 million in Q2 2003 and compared to $57.5 million in Q3 of last year. The Broadband Access Division recorded revenues of $40.3 million compared to $44.6 million in Q2 of 2003 and $49.6 million in Q3 of 2002.
Doron Inbar, ECI’s President and CEO said, “After a period of essentially declining revenues, we are pleased to record a sequential increase in quarterly revenues… At this point, we feel that the restructuring efforts of the last few years are essentially behind us….The market remains challenging but we are encouraged by the sequential growth in revenues, our improved gross margins and reduced net loss. “http://www.ecitele.com
