Ruckus Wireless Profits Fall as Revenues Jump by 50%
Published on: 13th Feb 2013
Note -- this news article is more than a year old.
Wi Fi vendor, Ruckus Wireless has reported fourth quarter revenues up by 51% at USD62.2 million, although net profit nearly halved to USD1.9 million, compared to USD3.2 million a year ago.
"2012 was an exciting year for Ruckus Wireless. In addition to completing our IPO, we continued to make progress on our business objectives while growing our revenue 79% and significantly increasing profitability over the prior year," said, Selina Lo, President and Chief Executive Officer at Ruckus Wireless.
Full year revenue was $214.7 million, an increase of 79% when compared to $120.0 million reported in 2011. Full year net profit was $31.7 million, compared with $4.2 million in 2011.