BigBand banking on second half turnaround
BigBand Networks reported first-quarter revenue of $18.4 million, down from $32.2 million in the first quarter of 2010, leading to a wider loss of $12.8 million, compared with a loss of $8.8 million in the like period a year ago.
The company is holding on with $136 million in cash as it hopes for a turnaround based on sales that may result from several trials it is currently participating in.
"During the quarter, we executed on our strategic priorities. We are encouraged by the recent progress we have made with customer trials and are pleased with our MSP-based solutions, which are being well received by our customers. We expect our new solutions to contribute to revenues in the second half of 2011 and beyond," said Amir Bassan-Eskenazi, president and CEO of BigBand Networks.
In the near term, however, the company expects Q2 net revenue to be flat, somewhere in the range of $18 million to $20 million.