Redback Matches Loss Estimates
The company's revenue falls from the year-ago quarter.
Redback Networks
(RBAK)
lost as much money as analysts expected in the latest first quarter, and the company said revenue was less than half of what it was in the same period a year ago.
The company, a maker of metro broadband and optical networking equipment, lost 19 cents a share in quarter, excluding items, meeting analysts' consensus forecast. When calculated according to generally accepted accounting principles, Redback lost 23 cents, compared with a loss of $2.92 in the year-ago quarter.
Revenue for the first quarter fell to $40.6 million from $90.9 million a year ago. The company expects revenue in the second quarter to be flat to slightly higher than the first quarter.
