ECI Telecom reported Q1 revenues of $155 million, compared with $162 million in the first quarter of 2006 and $154 million in the fourth quarter of 2006. GAAP net income reached $18.7 million, or $0.15 per share on a fully diluted basis, compared with first quarter 2006 net income of $3.1 million, or $0.03 per diluted share. Some highlights:
- Revenues for the Transport Networking Division (reflecting the merger of ECI’s Optical Networks and Data Networking Divisions), totaled $105 million for the quarter. This represents a 15% increase from $91 million in the comparable quarter last year and approximately $1 million lower than the fourth quarter of 2006. The sequential decline is due to lower data networking revenues offsetting continued growth in optical networking revenues. On a GAAP basis, operating income for the Division reached $6.8 million, while on a pro forma, non GAAP, basis, operating income reached $9.1 million.
- Revenues for the Broadband Access Division totaled $45 million for the quarter, down from $62 million in the comparable quarter last year and up from $40 million in the fourth quarter of 2006. On a GAAP basis, operating income for the Division totaled $3.8 million, while pro forma, non GAAP operating income was $4.1 million.
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