ECI Telecom reported Q2 revenues of $153 million, a 26% increase from $121 million in the second quarter of 2004 and compared with $145 million in the first quarter of 2005. Net income was $15.6 million, or $0.13 per share on a fully diluted basis.
Some highlights:
- Revenues for the Broadband Access Division, at $63 million for the quarter, were up 24% from a year ago and unchanged from last quarter.
- Revenues for the Optical Networks Division increased 34% from a year ago and reached $82 million for the quarter, compared to $77 million in the first quarter of 2005.
- Following the $88 million all-cash acquisition of Laurel Networks, ECI’s cash, including short and long term deposits and marketable securities, now totals $214 million, or $1.82 per share.
Commenting on the results, Doron Inbar, President and CEO said, “We are pleased to report yet another quarter of strong growth and solid profits, as ECI continues to demonstrate leadership in its markets, which remain among the fastest growing sectors in telecom.