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Paradyne Posts Pro Forma Profit

The company meets Wall Street estimates.
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posted a fourth-quarter loss Monday, but its pro forma profit met analysts' expectations.

For the quarter ended Dec. 31, the Largo, Fla., maker of broadband networking gear lost $508,000, or a penny a share. That compares with the year-ago loss of $1.4 million, or 2 cents a share.

On a so-called non-GAAP normalized basis, excluding certain costs, the latest-quarter profit was a penny a share, matching the Wall Street estimate. Sales rose to $28.6 million from $22.2 million a year earlier, again matching the Thomson First Call estimate.

The company said sales of broadband access products accounted for $25.8 million in latest-quarter revenue, while sales of narrowband products accounted for $1.3 million, and service revenue accounted for $1.5 million.

On Monday, Paradyne rose 11 cents to $3.13.