[May 26, 2015] |
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Radisys Announces Significant Order from Asian Carrier
Radisys Corporation (NASDAQ:RSYS), the services acceleration company,
today announced it has received a follow-on order of approximately $11
million for MediaEngine product from a large Asian carrier in support of
its VoLTE network deployment. The order is expected to be fulfilled by
Radisys over the course of the second and third quarters of 2015.
"We are energized by the opportunity to continue participating in the
VoLTE deployment of this large Asian carrier, in addition to the broad
acceleration we are seeing in the adoption of VoLTE and VoWiFi
globally," said Brian Bronson, Radisys President and CEO. "The
deployment by this carrier also demonstrates the power of our common
MediaEngine strategy, OneMRF, allowing communication service providers
to deploy a single media processing platform to support a variety of
multimedia services from 3rd party application providers."
"Finally, this order gives us further confidence in meeting our 2015
financial targets, delivering $0.20 of non-GAAP earnings per share and
growing our Software-Systems revenues by 20% year-on-year."
About Radisys
Radisys (NASDAQ:RSYS) helps communications and content providers, and
their strategic partners, create new revenue streams and drive cost out
of their services delivery infrastructure. Radisys' service aware
traffic distribution platforms, real-time media processing engines and
wireless access technologies enable its customers to maximize,
virtualize and monetize their networks.
Forward-Looking Statements
This press release contains forward-looking statements, including
statements about the Company's business strategy, financial outlook and
expectations for 2015, and statements related to revenue growth,
financial performance and other attributes of the Company. These
forward-looking statements are based on the Company's expectations and
assumptions, as of the date such statements are made, regarding the
Company's future operating performance and financial condition, customer
requirements, outcome of product trials, the economy and other future
events or circumstances. Actual results could differ materially from the
outlook guidance and expectations in these forward-looking statements as
a result of a number of risk factors, including, among others, (a)
customer implementation of traffic management solutions, (b) the outcome
of product trials, (c) the market success of customers' products and
solutions, (d) the development and transition of new products and
solutions, (e) the enhancement of existing products and solutions to
meet customer needs and respond to emerging technological trends, (f)
the Company's dependence on certain customers and high degree of
customer concentration, (g) the Company's use of one contract
manufacturer for a significant portion of the production of its
products, including the success of transitioning contract manufacturing
partners, (h) the anticipated amount and timing of revenues from design
wins due to the Company's customers' product development time,
cancellations or delays, (i) matters affecting the software and embedded
systems industry, icluding changes in industry standards, changes in
customer requirements and new product introductions, (j) the ability of
the Company to estimate and respond to changes in the timing and
magnitude of customer demand, (k) actions by regulatory authorities or
other third parties, (l) cash generation, (m) changes in tariff and
trade policies and other risks associated with foreign operations, (n)
fluctuations in currency exchange rates, (o) the ability of the Company
to successfully complete any restructuring, acquisition or divestiture
activities, (p) risks relating to fluctuations in the Company's
operating results, the uncertainty of revenues and profitability and the
potential need to raise additional funding and (q) other factors listed
in the Company's reports filed with the Securities and Exchange
Commission (SEC (News - Alert)), including those listed under "Risk Factors" in
Radisys' Annual Report on Form 10-K for the year ended December 31,
2014, copies of which may be obtained by contacting the Company at
503-615-1100, from the Company's investor relations web site at http://investor.radisys.com/,
or at the SEC's website at http://www.sec.gov.
Although forward-looking statements help provide additional information
about Radisys, investors should keep in mind that forward-looking
statements are inherently less reliable than historical information.
Should one or more of these risks or uncertainties materialize (or the
other consequences of such a development worsen), or should underlying
assumptions prove incorrect, actual outcomes may vary materially from
those forecasted or expected. The Company believes its expectations and
assumptions are reasonable, but there can be no assurance that the
expectations reflected herein will be achieved. All information in this
press release is as of May 27, 2015. The Company undertakes no duty to
update any forward-looking statement to conform the statement to actual
results or changes in the Company's expectations.
Non-GAAP Financial Measures
To supplement its consolidated financial statements in accordance with
generally accepted accounting principles (GAAP), the Company's earnings
release contains non-GAAP financial measures that exclude certain
expenses, gains and losses, such as the effects of (a) amortization of
acquired intangible assets, (b) stock-based compensation expense, (c)
restructuring and other charges (reversals), net, (d) non-cash income
tax expense, (e) gain on life insurance asset and (f) gain on sale of
land held for sale. The Company believes that the use of non-GAAP
financial measures provides useful information to investors to gain an
overall understanding of its current financial performance and its
prospects for the future. Specifically, the Company believes the
non-GAAP results provide useful information to both management and
investors by excluding certain expenses, gains and losses that the
Company believes are not indicative of its core operating results. In
addition, non-GAAP financial measures are used by management for
budgeting and forecasting as well as subsequently measuring the
Company's performance, and the Company believes that it is providing
investors with financial measures that most closely align to its
internal measurement processes. These non-GAAP measures are considered
to be reflective of the Company's core operating results as they more
closely reflect the essential revenue-generating activities of the
Company and direct operating expenses (resulting in cash expenditures)
needed to perform these revenue-generating activities. The Company also
believes, based on feedback provided to the Company during its earnings
calls' Q&A sessions and discussions with the investment community, that
the non-GAAP financial measures it provides are necessary to allow the
investment community to construct their valuation models to better align
its results and projections with its competitors and market sector, as
there is significant variability and unpredictability across companies
with respect to certain expenses, gains and losses.
The non-GAAP financial information is presented using a consistent
methodology from quarter-to-quarter and year-to-year. These measures
should be considered in addition to results prepared in accordance with
GAAP. In addition, these non-GAAP financial measures are not based on
any comprehensive set of accounting rules or principles. The Company
believes that non-GAAP financial measures have limitations in that they
do not reflect all of the amounts associated with the Company's results
of operations as determined in accordance with GAAP and that these
measures should only be used to evaluate the Company's results of
operations in conjunction with the corresponding GAAP financial measures.
A reconciliation of non-GAAP information to GAAP information is included
in the Company's press release and Form 8-K dated February 3, 2015. The
non-GAAP financial measures disclosed by the Company should not be
considered a substitute for or superior to financial measures calculated
in accordance with GAAP, and reconciliations between GAAP and non-GAAP
financial measures included in this earnings release should be carefully
evaluated. The non-GAAP financial measures used by the Company may be
calculated differently from, and therefore may not be comparable to,
similarly titled measures used by other companies.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150526006252/en/
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