Network Equipment Technologies Reports Quarterly Revenue of $33.8M

Network Equipment Technologies reported quarterly revenue of $33.8 million, up from $26.7 million in the same period of the prior year, a 27% increase, and up from $33.0 million posted in the prior quarter. For the quarter, the company posted a profit of $0.02 per share and increased its cash position by $6.1 million. The company said demand for its legacy product remains strong, highlighted by several new large orders from government customers during the quarter.
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