RadiSys Corporation Q2 2010 Earnings Call Transcript
All information is provided in this call is as of today. RadiSys undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations. In addition, during the call we will refer to some non-GAAP measures. We’ve provided a GAAP to non-GAAP reconciliation for these measures in our earnings release issued today.
Now, I’ll turn the call back over to Scott.
Thanks Holly. So I am very pleased with our overall financial and strategic progress for the quarter as well as the continued growth in our next generation business. From a financial perspective, we grew both revenue and earnings over the prior quarter and we delivered at the high end of our revenue range well exceeding our range on earnings.In the quarter we also successfully completed the full integration of Pactolus, a leader in next generation IP communication solutions. This acquisition was closed in the first quarter and further strengthens our higher value software based networking solutions. From a design win perspective, our largest win the quarter was for a fully integrated network security application.This marks one of our first wins of a complete turnkey network element solutions built on our market leading ATCA platform. We expect to announce more about this new product in the third quarter. We also saw our wins expand in the military and aerospace markets reinforcing our strategy of applying our highly reliable solutions to these growing market segments.In the quarter we also materially completed the outsourcing of all manufacturing to Asia. While we will hold ongoing work to optimize our operating model, all products have been successfully transitioned out of our Hillsboro facility. I want to talk about a couple of, excuse me talk about a couple of highlights for the quarter in different areas. First from an industry recognition standpoint, we were fortunate to be recognized for IMMS our Integrated Mobile Media Service received the 2010 NGN Leadership Award from Technology Marketing Corporation’s NGN Magazine. Recall that IMMS enhances mobile service providers’ ability to grow new video service revenues on both 3G and emerging 4G LTE mobile networks.
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