BigBand Networks’ Q4 revenue drops
BigBand Networks' fourth-quarter revenue was down $19.7 million compared with a year ago, while the company finished 2009 in the red.
BigBand’s fourth-quarter revenue was $34.4 million, compared with revenue of $54.1 million in the fourth quarter of 2008. The company’s net loss for the fourth quarter was $1.2 million, compared with a net income of $7.3 million in 2008.
For 2009, BigBand brought in total revenues of $139.5 million, compared with $185.3 million in 2008. The company lost $6.7 million in 2009, compared with a net income of $9.8 million in 2008.
BigBand closed the year with $171.9 million in cash, cash equivalents and marketable securities.
“Our fourth-quarter performance marks the positive conclusion to 2009, despite the challenging macroeconomic environment," commented Amir Bassan-Eskenazi, president and CEO of BigBand Networks. "During the year, we continued to win strategic footprint and align with our customers to deliver solutions that tie to the trends of HD, TV Everywhere and, ultimately, 3-D TV. In addition, we were successful at managing expenses, preserving cash and maintaining a strong balance sheet.
"In fiscal year 2010, we expect revenues to grow at approximately 10 percent despite the cautious capital spending indicated by our customers. Video is at the core of our customers' business strategy, and we believe a larger portion of capital budgets will be allocated to digital video networking over time."