A10 posts Q3 revenue of $61m, up 12% yoy

A10 Networks reported Q3 revenue of $61.4 million, up 12% compared with $55.1 million for the same period last year. There was a GAAP net loss of $2.7 million, or $0.04 per basic share.

“We delivered a strong third quarter and are pleased with the team’s execution. Revenue exceeded our initial and revised guidance and increased 12% year-over-year to reach $61.4 million. Our top-line performance was driven by solid demand and the team’s improved execution as we began to see the initial progress from some of the recent changes we implemented in the quarter,” said Lee Chen, president and chief executive officer of A10 Networks.

On the earning conference call, A10 executives disclosed that during Q3 the company secured large win with a mobile provider in the U.S., where it continued to expand its
footprint and replaced the incumbent ADC vendor with its ThunderADC and ThunderSSLi solutions. In total, this customer contributed 14 percent of Q3 revenue.

Third quarter product revenue grew 12 percent year-over-year to 39.4 million dollars, representing 64 percent of total revenue. Third quarter service revenue was 22.0 million dollars, or 36 percent of total revenue.

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Cypress sees gains from IoT

Cypress Semiconductor posted Q3 revenue of $604.6 million, up from $593.8 million a year earlier. Net income was $11 million, or $0.03 EPS, compared to a net loss of $23 million a year earlier. Margin was 41.8%.

“We continue to strengthen our position as the Internet of Things (IoT) leader with our state-of-the-art IoT connectivity solutions, flexible microcontrollers and high-performance memories,” said Hassane El-Khoury, Cypress president and chief executive officer.

“After a strong second quarter, we continued to deliver record revenue with strength across our key markets,” El-Khoury continued. “These results demonstrate we are delivering on our Cypress 3.0 strategy of selling embedded solutions into markets growing faster than the overall semiconductor industry. Our customers are relying on us for more bill-of-material coverage, with approximately 80% of our revenue generated by customers buying more than one product family across connectivity, microcontrollers and memory.”

• During the quarter, Cypress introduced a 28nm, ultra-low power Wi-Fi and Bluetooth combo solution for wearables, smart home products and portable audio applications. The new device cuts power consumption up to 70 percent in receive mode and up to 80 percent in sleep mode when compared to current solutions.

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