RadiSys Reports Fourth Quarter and Annual 2010 Results

RadiSys Corporation RSYS announced revenues for the fourth quarter of $66.8 million, GAAP net loss of $2.1 million or $0.09 per share, and non-GAAP net income of $2.0 million or $0.08 per diluted share. The Company announced annual 2010 revenues of $284.3 million, GAAP net loss of $369 thousand or $0.02 per share, and non-GAAP net income of $12.8 million or $0.50 per diluted share. Commenting on the results, Scott Grout, RadiSys President and CEO stated, “Fourth quarter revenues and earnings finished above our revised guidance in December due to upsides in our media server business at the end of the quarter. While our full year Next Generation Communications revenue growth was below our original projections, we did grow this business by 16% and continued to strengthen our leadership position in our target markets. "In 2010, we were awarded business with many new and existing customers across a wide range of applications including new fourth quarter wins in VQE, mobile video, network security, military communications and fixed mobile convergence applications. We also continue to make good progress in offering more software rich solutions such as our new LTE security gateway product where our customer completed lab evaluations and began customer field trials in the fourth quarter.”