Centillium Posts Q4 2007 Financial Results

Centillium Communications posted Q4 2007 of $8.6 million, compared with $10.0 million during the third quarter of 2007 and $10.0 million during the fourth quarter of 2006. For the year ended Dec. 31, 2007, net revenues were $39.2 million, compared with $64.6 million in 2006.


Net income was $2.4 million on a GAAP basis, or $0.06 per share, for the fourth quarter of 2007, compared with a net loss of $5.2 million, or $0.13 per share, for the third quarter of 2007 and a net loss of $6.0 million, or $0.15 per share, for the fourth quarter of 2006. The GAAP net income for the fourth quarter included an $8.9 million benefit from the reversal of accrued royalties; restructuring expense related to surplus space of $518,000; and a $1.4 million impairment of assets charge related to the divestiture of our DSL business.


"On Feb. 13, 2008, we completed the sale of our DSL business to Ikanos Communications, Inc. for $12 million in cash," said Faraj Aalaei, co-founder and CEO of Centillium. "The sale of our DSL business will allow us to focus our resources on Optical and VoIP, our two key growth businesses. We will continue to focus on delivering exceptional products, expanding our worldwide customer base, improving our competitive position and growing our market share," said Aalaei.http://www.centillium.com