Foundry Networks 4Q sales rise |
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Wed, 31 Jan 2007 23:30
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SAN JOSE, Calif. (AFX) - Foundry Networks Inc. said Wednesday shipments of its NetIron XMR and MLX MPLS routers, which target service providers and high-end customers, drove fourth-quarter revenue up 14 percent.The networking products maker said these routers now represent about 13 percent of total revenue. The company posted quarterly sales of $132.7 million -- up from $116.1 million a year ago, and from $118.8 million in the third quarter.Analysts surveyed by Thomson Financial were looking for sales of $125.7 million.Revenue for the full year grew to $474 million from $403.9 million a year ago.Shares rose 10 cents to close at $14.47 on the Nasdaq and climbed 8 cents to $14.55 after-hours.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Foundry CFO Timothy D. Heffner resigns 