Ruckus Wireless Profits Flatline Despite Revenues Jump
Published on: 1st May 2014
By: Ian Mansfield
Wi Fi vendor Ruckus Wireless has reported a near one third increase in its quarterly revenues although the net profits were flat over the year.
The company saw revenues rise by 31.1 percent to USD75.1 million, while net profit was level at USD0.3 million. Product revenue was $70.1 million of 31.4% year-over-year and 2.3% sequentially, services revenue with $5 million of 26.6% year-over-year and 10.3% sequentially.
In the first quarter of 2014, Ruckus added 13 new service provider end-customers and over 3,000 new end-customers overall, reaching over 36,000 total end-customers worldwide.
"Ruckus delivered a strong first quarter and achieved a number of business and financial milestones. We exceeded both our revenue and EPS guidance. We also continued to expand our service provider and enterprise installed base and gain market share," said Selina Lo, president and chief executive officer, Ruckus Wireless.
For the second quarter of 2014 ending June 30, 2014, the company expects total revenue in the range of $78 million to $80 million.
The company finished Q1 with cash and cash equivalents and short-term investments in restricted cash totaling $161 million, an increase of $4.2 million from the prior quarter.