[November 05, 2009] BigBand Networks Posts 3Q Results Tweet Nov 05, 2009 (Close-Up Media via COMTEX) -- BigBand Networks reported financial results for the third quarter ended September 30. In a release dated November 3, the company stated: - For the third quarter of 2009, total revenues were $22.2 million, and GAAP net loss was $10.9 million, or ($0.16) per share. This compares to revenues of $48.3 million and GAAP net income of $3.1 million, or $0.05 per diluted share, reported in the third quarter of 2008. - On a non-GAAP basis, the company reported a net loss of $5.9 million, or ($0.09) per share, in the third quarter of 2009, which compares to non-GAAP net income of $6.5 million, or $0.10 per diluted share, reported in the third quarter of 2008. Third quarter 2009 non-GAAP results exclude $3.8 million of stock-based compensation expense and include a $1.1 million tax benefit for the reduction of taxes provided earlier in the year. - The company closed the third quarter with $41.8 million in deferred revenue. In addition, cash, cash equivalents and marketable securities were $161.6 million at September 30. "We are encouraged by the significant improvement in bookings during the third quarter, compared to the slower order activity experienced in the second quarter of 2009 that resulted in lower revenues in the September period," said Amir Bassan-Eskenazi, president and CEO of BigBand Networks. "We won major new Switched Digital Video markets, which increased our coverage to more than 28 million homes. In addition, we experienced stronger bookings in other solutions, which increases our confidence for improved operating results in the fourth quarter. Based on interactions with our customers and prospects, we believe operators are preparing to increase capital spending on video equipment in 2010." - For the nine months ended September 30, total revenues were $105.1 million, and GAAP net loss was $5.5 million, or ($0.08) per share. This compares to total revenues of $131.2 million and GAAP net income of $2.5 million, or $0.04 per diluted share, reported in the nine months ended September 30, 2008. On a non-GAAP basis, the company reported net income of $6.2 million, or $0.09 per diluted share, in the nine months ended September 30. This compares to non-GAAP net income of $12.4 million, or $0.18 per diluted share, reported in the nine months ended September 30, 2008. BigBand Networks offers broadband service providers network solutions. These solutions are based on BigBand's video-networking platforms that are built to enable delivery across a wide range of services, including digital TV, high definition TV, advanced advertising, video-on-demand and interactive TV. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]