Radisys Corporation, a provider of embedded wireless infrastructure solutions for telecom applications, has revealed revenues of $77.6 million for the second quarter.
The company recorded non-GAAP revenue of $77.7 million. GAAP net income for the second quarter was $1.3 million or $0.05 per share, and non-GAAP net income was $5.2 million or $0.17 per diluted share.
“Our second quarter non-GAAP earnings came in towards the higher end of our expectations. A favorable ATCA customer mix combined with strong Software-Solutions revenue, which was over 20 percent of total revenue, enabled non-GAAP gross margins of over 37 percent, our highest level in many years,” said Mike Dagenais, Radisys' chief executive officer, in a statement.
“When combined with tight expense controls, we were able to achieve our expected earnings target despite the lower than expected overall revenue levels,” Dagenais added.
Looking at this particular quarter, the company had 24 new wins across 21 different customers, 9 of which were new to Radisys. A healthy share of these customer wins goes to Com Express, especially in applications including medical imaging, military communications, and photo radar. The blend of Radisys and Com Express in their first year as a combined company brings the total design wins to 91, with a value of over $300 million in revenue over the next 5 years.
The company recently launched the CEQM77 family of ultra-portable COM Express modules for graphics and processing-intensive applications. Based on the third-generation Intel (News - Alert) Core i7 processors, the CEQM77 family of COM Express modules combines quad and dual-core performance and powers the latest graphics technology and processing improvements.
Radisys has also seen strong momentum for its T-Series ATCA 40G appliances mainly for LTE (News - Alert) telecom platform deployments with several key existing customers. MPX-12000, Radisys’ ATCA-based Multimedia Resource function, is ready for a number of lab evaluations with multiple Tier 1 telecom equipment manufacturers as well as telecom carriers.
The MPX-12000 was also awarded a 2012 NGN Leadership Award from Internet Telephony (News - Alert) and Next Gen Mobility Magazine.
Further, the Trillium TOTALeNodeB was awarded the best enabling technology at London's Small Cell Forum Industry Awards in June. The technology is in the final stages of deployment readiness trials at two important customers.
“Similar to what many others in the telecom and broader macro markets have recently reported, we are seeing growing uncertainty and tangible softening in our market,” Dagenais concluded. “The softness we're seeing is predominately from our traditionally largest customers, and while we're disappointed in these recent market changes, we believe we are very well positioned given our design win performance and new product momentum when the market rebounds.”
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Edited by Jamie Epstein