Avaya Reports Financial Turn Around, Revenue up 4.3% Sequentially

Avaya reported quarterly revenue of $1.1 billion, up 4.3% sequentially. Net income was $66 million or earnings of 15 cents per diluted share. Avaya noted its cash balance increased for the fifth straight quarter to $1.192 billion, giving the company a positive net cash position, for the first time since its inception, of $239 million.


Don Peterson, chairman and CEO of Avaya, said the company in a substantially different position from where it was 12 months ago. He said the company is now profitable, has a strengthened financial position, and is a market leader in IP telephony.


Separately, Avaya announced a contract to provide Grupo Santander, Spain's largest financial service group, with a converged communications network to support Santander's new financial campus in Madrid. The new Avaya network will centralize nearly all of Santander's IP telephony services as well as provide internal telephony, new services for employees and the possibility to network with other vendor PBXs within the bank.


Avaya also announced that it is supplying its IP communications solution for the Cologne stadium (RheinEnergie Stadion) in Germany. The deal was completed in partnership with Deutsche Telekom T-Com.
http://www.avaya.com