posted a surge in first-quarter profit as the telecom gear maker posted double-digit revenue gains in all three of its businesses.
The Naperville, Ill., company made $52 million, or 11 cents a share, for the quarter ended March 31, up from the year-ago $700,000, or less than a penny a share. Excluding certain costs, latest-quarter earnings were 14 cents a share, 2 cents ahead of the Thomson Financial estimate. Revenue rose 18% from a year ago to $515 million, breezing past the $495 million estimate.
Broadband revenue rose 14% from a year ago to $260 million, transport revenue jumped 24% from a year ago to $214 million and services revenue added 18% to $41 million.