Radisys Corporation (NASDAQ: RSYS), a global leader of open telecom solutions, has announced financial results for the first quarter ended March 31, 2018, the company said.
Consolidated revenue of USD 26.2 million, with Software-Systems revenue growth of 10% over prior year;
GAAP gross margin of 26.6% and non-GAAP gross margin of 32.8%;
GAAP loss per share of (USD 0.16) and non-GAAP loss per share of (USD 0.08), at the favorable-end of the company´s guidance range;
Delivered orders totaling over USD 1 million in software revenue to a top MediaEngine channel partner tied to accelerating end-customer voice-over-LTE deployments;
Awarded orders totaling nearly USD 4 million for CORD services programs with an existing European Tier 1 customer and a new customer in India, both of which are expected to be delivered in 2018; and
Closed a previously announced USD 17 million senior note financing in January.
For the first quarter of 2018, Software-Systems revenue was USD 11.1 million, compared to USD 14.8 million in the prior quarter and USD 10.1 million in the first quarter of 2017.
Gross margin was 49.2%, compared to 53.9% in the prior quarter and 53.8% in the first quarter of 2017. Operating loss was USD 3.1 million, compared to operating income of USD 0.6 million in the prior quarter and an operating loss of USD 3.3 million in the first quarter of 2017.
Radisys enables service providers to drive disruption with new open architecture business models. Radisys´ innovative disaggregated and virtualized enabling technology solutions leverage open reference architectures and standards, combined with open software and hardware to power business transformation for the telecom industry, while its world-class services organization delivers systems integration expertise necessary to solve communications and content providers´ complex deployment challenges. For more information, visit www.Radisys.com.