Meru Networks Reports Rapid Sales Rise

Meru Networks, which supplies enterprise WLAN solutions, reported Q2 2010 revenue of $20.9 million, up 22% from $17.1 million in the second quarter of fiscal year 2009. Products and services revenues for the second quarter of fiscal year 2010 were $18.0 million, up 47% from the $12.3 million reported in the second quarter of fiscal year 2009.


Net income as reported in accordance with U.S. generally accepted accounting principles (GAAP) was $0.9 million for the second quarter of 2010, or $0.05 per fully diluted share, compared to a net loss of $2.3 million, or net loss per share of $6.20, for the same period of fiscal year 2009.


"I am pleased with our second quarter results, which I believe demonstrate the continuing demand we're seeing from our key markets as well as our proven ability to execute," said Ihab Abu-Hakima, president and chief executive officer, Meru Networks.
http://www.merunetworks.com