Revenue down to $22.8m compared with $29.9m for the fourth quarter of 2007
Ikanos Communications, a provider of broadband semiconductor and software products, has posted a GAAP net loss of $5.7m, or $0.20 per share, for the fourth quarter of 2008 ended December 28, 2008, compared with a net loss of $4.1m, or $0.14 per share, in the fourth quarter of 2007.
Revenue in the fourth quarter of 2008 was $22.8m compared with revenue of $29.9m for the fourth quarter of 2007.
For the year ended December 28, 2008, the company posted revenue of $106.5m, compared with the revenue of $107.5m reported for the same period of 2007. GAAP net loss for the year ended December 28, 2008 was $41.1m, or $1.41 per basic and diluted share, compared with a net loss of $33.3m, or $1.16 per basic and diluted share in 2007.
Michael Gulett, president and CEO of Ikanos, said: Our fourth quarter financial performance met expectations. We made progress in a number of areas including driving our latest platforms into as many broadband deployments as possible, increasing customer engagements in Europe and other regions, and reducing expenses.