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ECI Reports 11% Increase in Revenues for Second Quarter of 2006
|01 августа 2006|
Cash flow from operating activities totaled $9.1 million for the second quarter of 2006. As of June 30, 2006 and following the distribution of the ECtel shares, ECI Telecom's cash, including short and long-term deposits and marketable securities, totaled $259 million, or $2.15 per share, with no debt.
Revenues for the Optical Networks Division totaled $92 million for the second quarter of 2006, up 12% from the year ago period and compared to $89 million in the preceding quarter. Operating income for the division reached $14.8 million, up 67% compared to the second quarter of 2005 and compared to $12.7 million in the first quarter. Strong demand for cellular backhaul, particularly in emerging markets, continued to be a primary driver in the division's sales growth.
Revenues for the Broadband Access Division totaled $66 million for the second quarter of 2006, up 5% from the year ago period and an increase of $5 million over the previous quarter. The increase in the division's revenues resulted primarily from the recognition for the first time of revenues related to successful delivery of the first phase of Deutsche Telekom's High Speed Internet project. Operating income for the division totaled $3.9 million, compared to $6.4 million in the year ago period and $5.9 million in the preceding quarter.
Revenues for the Data Networking Division (formerly Laurel Networks) totaled $3 million for the second quarter of 2006, up from $2 million reported in the previous quarter, while the operating loss was $10.9 million, compared to $9.5 million in the previous quarter, reflecting the still relatively low revenues and continued intensive research and development efforts currently underway in the division. Rafi Maor, ECI Telecom President and CEO stated, "The strength of our second quarter results reflect the continued success of our strategic positioning in key growth segments of the communications market, such as IPTV and cellular backhaul, as well as a solid position in higher growth geographical markets- notably emerging markets in Asia and East Europe.
"ECI's Broadband Access division continued demonstrating technological leadership by being one of the first in the world to deploy next generation IPTV solutions in large-scale commercial projects. During the second quarter, we completed deliveries of phase one shipments for Deutsche Telekom's VDSL2-based High Speed Internet project. … We continued to deliver IPTV infrastructure solutions to France Telecom, providing a unique evolutionary path to offer next generation services by upgrading existing infrastructure. While we expect significant revenues from these deployments in the next few years, revenues in the division may be somewhat lower in the second half of the year, depending upon the rate of the deployment of our major customers. Overall, our competitive positioning in broadband access remains strong.
"ECI's Optical Networks Division continues to demonstrate strong business momentum. Strong new cellular subscriber growth in key emerging markets continued to drive strong demand for our cellular backhaul and wireline offerings. Highlighting this success, ECI was recently named by Voice and Data, a leading telecom magazine in India, as the largest transmission equipment vendor in India with a 31% market share. India is a key geographic market where cellular subscriber additions are currently estimated at approximately 5 millions per month. ECI expanded its relationship with key customers including Bharti, Hutchison and Tata in India, Ukrtelecom, the leading operator in the Ukraine and Vimpelcom in Russia. We also secured new customers wins in the Asia Pacific region such as South Korea's Dreamline Co...
"Our Data Networking Division experienced during the second quarter improved bookings and revenues and more importantly increased pipeline activity through both direct and indirect sales channels. We expect to continue to see increased order intake rates. Three weeks ago we announced the appointment of Tony Scarfo, a former senior executive at Juniper Networks, as new General Manager of the division. The unique combination of our Broadband Access, Optical Networks and Data Networking expertise is central to our strategy of developing advanced IP-based solutions providing our customers a clear pathway to next generation converged network deployments," concluded Maor.
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