RadiSys sales down, but company says it's turned a corner
Mar 05, 2013 (The Oregonian - McClatchy-Tribune Information Services via COMTEX) --
Radisys Corp. posted another quarterly sales decline this afternoon, but revenue was above the Hillsboro company's forecasts as it retools under new management.
Fourth-quarter revenue totaled $69.3 million. That's down 13 percent from the same quarter last year, but slightly above Radisys' forecast range.
Radisys lost $4.9 million, 18 cents a share, roughly even with its loss in the fourth quarter of 2011.
Radisys makes components that electronics and communications companies use in their own products.
Last year was a big disappointment for Radisys, with sales falling 14 percent. So in October, the company replaced chief executive Michael Dagenais after less than 15 months on the job.
In his place, Radisys installed longtime company executive Brian Bronson. Bronson announced a new strategy, directing Radisys to do fewer things -- and to do them better.
Today he said Radisys will continue on that path, investing more in integrated hardware and software while focusing on the telecommunications market.
Radisys said it expects revenues in the current quarter between $66 million and $71 million, down between 6 and 12 percent from the first quarter last year.
Investors appeared poised to give up altogether on Radisys last fall, with the stock plunging to around $2 a share (down from a 52-week high near $8.) But it's rallied a bit as Radisys' outlook improved.
Today, the stock climbed 12 cents, 2.9 percent, closing at $4.21 before the company reported quarterly results.
-- Mike Rogoway; twitter: @rogoway; phone: 503-294-7699
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