Network Equipment Technologies (NET) has reported total revenues of $18.9m, an increase of 49% compared to $12.7m for the same period last year.
For the fourth quarter ended March 26, 2010, the company posted gross margin of $9.4m, up from $4m for the same period last year. It reported operating loss of $3m, compared to operating loss of $8.96m for the same period last year.
The company reported net loss of $3.1m, compared to a net loss of $9.3m for the same quarter a year ago. Net loss per diluted share was down to $0.11 from net loss per diluted share of $0.32 per share for year ago quarter.
For the fiscal year 2010, the company reported revenue of $74.5m, up 13% from $65.8m in fiscal 2009. It experienced an operating loss of $18m, compared to an operating loss of $82.2m. Net loss in the fiscal year was $17.8 m or $0.61 per share, compared to net loss of $53.5m or $1.85 per share in fiscal 2009.
Nicholas Keating Jr, president and CEO at Network Equipment Technologies, said: “Throughout the past year, we selectively leveraged our existing resources, controlled our expenses, and introduced new products targeted at the emerging unified communications and secure voice markets.
“Our prospects continue to grow with more and more Fortune 1000 global companies. This is due in large part to our strong direct-touch sales organisation and through relationships with an expanding network of partners that are leading the advancement of unified communications, including Microsoft, HP, and other global integrators.”
