Ikanos Reports Revenue of $58.2 million

Ikanos Communications reported Q4 2009 revenue of $58.2 million compared with revenue of $29.3 million for the third quarter of 2009 and revenue of $22.8 million for the year ago period. Revenue for the year ended January 3, 2010 was $130.7 million compared with the $106.5 million reported for the year ended December 28, 2008.


GAAP net loss for the fourth quarter of 2009 was $9.1 million, or $0.17 per share, on 53.9 million weighted average shares. This compares with a net loss of $15.5 million, or $0.40 per share, on 38.8 million weighted average shares in the third quarter of 2009 and with a net loss of $5.7 million, or $0.20 per share, on 28.9 million weighted average shares in the fourth quarter of 2008.


Non-GAAP net income for the fourth quarter of 2009 was $1.5 million, or $0.03 per diluted share, on 56.1 million weighted average shares. This compares with non-GAAP net loss of $4.5 million, or $0.12 per share, in the third quarter of fiscal 2009, and with a non-GAAP net loss of $2.4 million, or $0.08 per share, in the fourth quarter of 2008.


"Ikanos delivered record revenue and returned to profitability on a non-GAAP basis in the fourth quarter," said Michael Gulett, president and CEO of Ikanos. "We completed our first full quarter since the acquisition of the Conexant broadband business and effectively executed our business plan. We grew and diversified our revenue base across multiple regions, customers and product lines, we consolidated development efforts and reduced operating expenses, and we were able to begin redirecting engineering investments towards new markets for future growth."http://www.ikanos.com