BigBand Networks’ Q2 revenues down 21%

Fri, 08/01/2008 - 8:25am
Mike Robuck

In a second-quarter earnings call, BigBand Networks said that its revenues were $43 million, which is down 21 percent from the $54.5 million it reported in the same quarter a year ago.

BigBand’s 2007 second-quarter revenues were buoyed by the $1.7 million it received from its Cuda cable modem termination system (CMTS) platform, which it no longer offers. BigBand’s second-quarter revenues did top the $39.9 million it reported in its most recent first quarter.

In the second quarter, BigBand posted a net income of $1.2 million, or 2 cents per diluted share, compared with a net income of $1.7 million, or 2 cents per diluted share, in the second quarter a year ago. In the first quarter of this year, BigBand had a net loss of $1.9 million.

For the third quarter, BigBand said its new revenues are expected to be in the range of $46 million to $48 million, while net earnings are projected to be in the range from a loss of 2 cents to a profit of 1 cent.

BigBand also said this week that Jeffrey Lindholm, senior vice president of sales and marking, has retired, effective today. CFO David Heard has assumed Lindholm’s duties.

Earlier this week, BigBand announced that Susan George was named regional vice president of cable sales . George will focus on Comcast, Cablevision, Cox Communications and other cable accounts and will report to Heard.

BigBand was an early pioneer of switched digital video (SDV) when it took part in a trial in Austin, Texas, with Time Warner Cable in 2004. BigBand’s switched digital video platform was deployed by Cox Communications last year, and it also counts Time Warner Cable, Comcast and Cablevision among its customers.

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