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Nun ein paar News zur Ergänzung: Foundry Networks(TM) Reports Second Quarter Financial Results Company Achieves 14% Sequential Revenue Growth SAN JOSE, Calif., July 21 /PRNewswire-FirstCall/ -- Foundry Networks(TM), Inc. (Nasdaq: FDRY), today reported financial results for its second quarter ended June 30, 2005. Revenue for the second quarter of 2005 was $96.6 million, compared to $84.6 million for the first quarter of 2005, and $97.8 million for the second quarter of 2004. Foundry earned net income of $9.6 million, or $0.07 per diluted share, in the second quarter of 2005, compared to net income of $9.9 million, or $0.07 per diluted share, in the first quarter of 2005, and net income of $15.0 million, or $0.11 per diluted share, in the second quarter of 2004. Revenue for the first six months of 2005 was $181.2 million, compared to $201.8 million for the first six months of 2004. Net income for the first six months of 2005 was $19.5 million, or $0.14 per diluted share, compared to net income of $34.9 million, or $0.24 per diluted share, for the same period in 2004. In the second quarter, the Company`s enterprise business delivered strong performance and improved significantly from the prior quarter in both the U.S. and Europe. Revenue from the U.S. Federal Government remained flat in absolute dollars, but declined as a percentage of total revenue to 15% in the second quarter. "We are pleased with the sharp rebound achieved in our enterprise business during the second quarter of 2005," said Bobby Johnson, President and CEO of Foundry Networks. "Our products and technology continue to receive validation in the marketplace. The BigIron(R) RX platform, which we announced in the second quarter, won "Best of Show" in the LAN Infrastructure category at both the N+I tradeshow in Las Vegas and Tokyo. In addition, the RX platform also won "Best of Interop Grand Prize" at the Las Vegas tradeshow. The initial response to these new products, as well as our new MPLS routers and Layer 4-7 products, has been very positive. "Indicative of our success in the second quarter was strong growth in overall port shipments. In the second quarter of 2005, we shipped record levels of 10-Gig Ethernet, Layer 4-7, and Power-over-Ethernet ports. Moreover, on a sequential basis, our port shipments of 10-Gig Ethernet grew 54%, Gig Ethernet-over-Copper grew 72%, and Power-over-Ethernet grew over 220%, all achieving record highs. Outlook "Although we are pleased with the improvement in many segments of our business, we continue to experience limited visibility in the U.S. Federal Government vertical market, historically an important segment of our business. Given our strong second quarter performance and based on the level of business activity thus far in the current period, we are increasingly optimistic about the second half of 2005. We believe our investments in the R&D and sales organizations have strengthened Foundry`s competitive position and should enable us to capitalize on the market opportunities ahead," concluded Johnson. Conference Call Foundry Networks will host a conference call today to further discuss these results at 2:00 p.m. Pacific Time. The call can be accessed via a webcast at www.foundrynetworks.com. A Web replay will also be available for approximately 90 days at this same Web address. About Foundry Networks Foundry Networks, Inc. is a leading provider of high-performance enterprise and service provider switching, routing and Web traffic management solutions including Layer 2/3 LAN switches, Layer 3 Backbone switches, Layer 4-7 application switches, wireless LAN and access points, access routers and Metro routers. Foundry`s 8,500 customers include the world`s premier ISPs, Metro service providers, and enterprises including e-commerce sites, universities, entertainment, health and wellness, government, financial, and manufacturing companies. For more information about the company and its products, call 1-888-TURBOLAN or visit www.foundrynetworks.com. Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by that section. These forward-looking statements include statements by Mr. Johnson regarding positive customer reaction to new product introductions, the extent and sustainability of our improved results and our strengthened competitive position, and our ability to capitalize on future market opportunities. The forward-looking statements in this press release are subject to a number of risks and uncertainties which could cause actual results to differ materially, including, without limitation, our dependence on large purchases of products from certain customers/resellers, the strength of the overall economy and the high-technology market in particular, competition, product development efforts, and acceptance of Foundry`s current and future products. Actual results could differ materially from those projected in our forward-looking statements. Investors should review the risk factors described in more detail in our most recent Annual Report on Form 10-K, 10-Q and other SEC reports available free of charge from Foundry at www.foundrynetworks.com or from the SEC at www.sec.gov. Foundry assumes no obligation to update the forward-looking statements contained in this press release. FOUNDRY NETWORKS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2005 2004 2005 2004 Net revenue: Product $80,748 $83,489 $149,180 $172,789 Service 15,840 14,338 32,044 29,054 Total net revenue 96,588 97,827 181,224 201,843 Cost of revenue: Product 34,462 30,442 63,084 62,436 Service 3,335 3,566 6,648 6,692 Total cost of revenue 37,797 34,008 69,732 69,128 Gross profit 58,791 63,819 111,492 132,715 Operating expenses: Research and development 14,241 10,003 26,668 20,015 Sales and marketing 28,338 25,094 52,920 48,262 General and administrative 5,321 6,268 10,484 11,693 Total operating expenses 47,900 41,365 90,072 79,970 Income from operations 10,891 22,454 21,420 52,745 Interest and other income, net 3,797 1,720 7,670 3,527 Income before provision for income taxes 14,688 24,174 29,090 56,272 Provision for income taxes 5,135 9,186 9,600 21,383 Net income $9,553 $14,988 $19,490 $34,889 Basic net income per share $0.07 $0.11 $0.14 $0.26 Weighted average shares used in computing basic net income per share 138,627 135,183 138,269 133,964 Diluted net income per share $0.07 $0.11 $0.14 $0.24 Weighted average shares used in computing diluted net income per share 141,109 141,475 141,511 142,624 FOUNDRY NETWORKS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) June 30, December 31, 2005 2004 ASSETS (unaudited) (2) Assets: Cash and investments (1) $684,166 $617,441 Accounts receivable, net 59,180 91,502 Inventories 37,091 38,743 Deferred tax assets 42,225 42,278 Prepaid expenses and other current assets 6,156 6,865 Property and equipment, net 8,036 8,852 Other long-term assets ... 5,347 5,511 $842,201 $811,192 LIABILITIES AND STOCKHOLDERS` EQUITY Current Liabilities: Accounts payable $18,245 $18,238 Accrued payroll and related expenses 18,261 21,682 Income taxes payable 7,742 -- Other accrued expenses 8,807 8,700 Deferred support revenue 33,484 38,621 Total current liabilities 86,539 87,241 Deferred support revenue 18,036 17,613 Stockholders` equity 737,626 706,338 $842,201 $811,192 (1) Includes $170.9 million of long-term marketable securities at June 30, 2005 and $174.0 million at December 31, 2004. (2) Derived from audited condensed consolidated financial statements as of December 31, 2004. FOUNDRY NETWORKS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands) Six Months Ended June 30, 2005 2004 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $19,490 $34,889 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 4,482 3,490 Reduction of provision for doubtful accounts 454 -- Inventory provisions 9,067 8,723 Tax benefit from stock option exercises 1,241 19,860 Changes in operating assets and liabilities: Accounts receivable 31,868 1,882 Inventories (7,415) (19,099) Prepaid expenses and deferred tax and other assets 326 (512) Accounts payable 7 9,386 Accrued payroll and related expenses (3,421) (523) Other accrued expenses 7,849 2,315 Deferred support revenue (4,714) 6,111 Net cash provided by operating activities 59,234 66,522 CASH FLOWS FROM INVESTING ACTIVITIES: Maturities and purchases of investments, net 89,978 (98,180) Purchases of property and equipment, net (3,066) (5,949) Net cash provided by (used in) investing activities 86,912 (104,129) CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of note receivable -- 480 Issuances of common stock under employee stock plans 10,159 27,169 Net cash provided by financing activities 10,159 27,649 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 156,305 (9,958) Effect of exchange rate changes on cash 398 (146) CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 112,274 161,718 CASH AND CASH EQUIVALENTS, END OF PERIOD $268,977 $151,614 SUPPLEMENTAL CASH FLOW INFORMATION; Cash paid for income taxes, net of refunds received $(202) $(4,143) SOURCE Foundry Networks, Inc. -0- 07/21/2005 /CONTACT: Tim Heffner, Chief Financial Officer, +1-408-586-1700, or theffner@foundrynet.com, or Michael Iburg, Treasurer, +1-408-586-1894, or miburg@foundrynet.com, both of Foundry Networks; or Jason Golz, Investor Relations of Financial Dynamics, +1-415-439-4532, or jgolz@fd-us.com, for Foundry Networks/ /Web site: http://www.foundrynetworks.com / (FDRY) CO: Foundry Networks, Inc. ST: California IN: NET CPR ITE TLS ECP SU: ERN CCA ERP ND-HD -- SFTH075 -- 0796 07/21/200516:05 EDThttp://www.prnewswire.com |
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| aus der Diskussion: | Foundry bricht aus WKN 925661 |
| Autor (Datum des Eintrages): | honorar (03.08.05 20:29:15) |
| Beitrag: | 2 von 13 (ID:17439813) |
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