reported third-quarter earnings that beat analysts' expectations.
Redback, which provides networking products for broadband access, earned $3.2 million, or 2 cents a diluted share, in the latest third quarter, up from last year's loss of $569,000, or 1 cent a share. All figures exclude acquisition-related costs and stock compensation charges. A
First Call/Thomson Financial
survey of 13 analysts expected the company to post a loss of 2 cents a share.
Revenue rose to $80.6 million from $20.6 million for the same period last year, due to the introduction of new products and service growth from its Canadian unit