Ikanos' Q3 Revenue Grows to $29 Million

Ikanos Communications reported Q3 2009 revenue of $29.3 million, compared with revenue of $22.4 million for the second quarter of 2009 and revenue of $24.2 million for the year ago period. GAAP net loss for the third quarter of 2009 was $15.5 million, or $0.40 per share, on 38.8 million weighted average shares. This compares with a net loss of $6.4 million, or $0.22 per share, on 29.4 million weighted average shares in the second quarter of 2009 and with a net loss of $26.7 million, or $0.93 per share, on 28.6 million weighted average shares in the third quarter of 2008.


Revenue is expected to be between $55.0 million and $58.0 million for the fourth quarter of 2009.


During the third quarter, we successfully completed a number of strategic initiatives including the Conexant Broadband Access acquisition, a strategic alliance with ASSIA Inc., and the introduction of Ikanos Velocity, the industry's lowest power high-performance A/VDSL central office chipset," said Michael Gulett, president and CEO at Ikanos. "These accomplishments strengthen our ability to compete in our core broadband DSL market. In addition, we are pleased with the growth in our communications processor business which accounted for approximately 25 percent of revenue in the most recent quarter."http://www.ikanos.com