The Santa Clara, California-based company posted a net loss of $27.8m for its third quarter, compared with a net income of $2.2m last year. Revenues for the third quarter were just $13.8m, a dive of 77% from $60.1m last year.
Riverstone provides metropolitan area networking solutions that enable service providers to convert raw bandwidth into profitable services over legacy and next-generation infrastructures. Last quarter, it slashed 30% of its workforce after admitting its figures would be woefully short of expectations.
Source: Computerwire
