Redback beats analyst estimates o.T.

Redback Q2 earnings miss lowered target
SAN JOSE, Calif., July 11 (Reuters) - Redback Networks Inc. (NasdaqNM:RBAK - news), an Internet parts supplier whose stock has fallen 95 percent in the economic slowdown, reported on Wednesday a fiscal second quarter operating loss below a recently cut target.

The pro forma net loss was $37 million, or 26 cents per share. It's pro forma net loss was 13 cent loss last quarter and 5 cents loss a year ago.

Sales fell to $59.4 million in the fiscal second quarter from $91 million in the previous quarter and $49 million in the year-ago quarter.

Redback, which makes equipment and software for metropolitan area optical networks, had said on June 27 that communications network owners were slowing buying as they tried to make better use of what they had.

It then forecast sales would be $55 million to $60 million instead of the $88 million expected by Wall Street at the time and the net loss, not counting one-time items, would be 27-32 cents per share rather than 11 cents, as analysts polled by Thomson Financial/First Call expected at the time.

Redback shares have underperformed the Standard & Poor's 500 index (^SPX - news) by about 80 percent this year.

The Q2 GAAP loss, which includes acquisition-related charges, stock compensation charges, restructuring charges and charges for inventory and other impairments, was $460 million or $3.26 per share.

geil verlust bei 460 mio mrkt.kap. 1000 mio, kgv -2

wann sind die pleite?

                                       forma net loss was 13 cents per share last quarter and 5 cents loss a
                                       year ago.

                                       Sales fell to $59.4 million in the fiscal second quarter from $91 million in
                                       the previous quarter and $49 million in the year-ago quarter.

Redback, which makes equipment and software for metropolitan area optical networks, had said on June 27 that
communications network owners were slowing buying as they tried to make better use of what they had.

It then forecast sales would be $55 million to $60 million instead of the $88 million expected by Wall Street at the time and
the net loss, not counting one-time items, would be 27-32 cents per share rather than 11 cents, as analysts polled by Thomson
Financial/First Call expected at the time.

Redback shares have underperformed the Standard & Poor's 500 index (^SPX - news) by about 80 percent this year.