net.com Reports Revenue of $18.4 Million

Network Equipment Technologies reported quarterly revenue of $18.4 million, down 23.0% from $23.8 million in the prior quarter. This compares to revenue of $29.1 million in the same period of the prior year. Product revenue for the quarter was $14.7 million, down from $19.5 million in the prior quarter. Revenue for the company's new products represented 22.3% of total product revenue in the first quarter of fiscal 2006.


Net loss for the quarter was $5.1 million, or $0.21 per share, compared to a net loss for the same period of the prior year of $829,000, or $0.03 per share.


Cash balances were $100.6 million, including $405,000 of long-term restricted cash included in other assets. http://www.net.com