CEO Zaki Rakib foresees an return to profitability in the second quarter of 2004.
Intelligent broadband access developer Terayon Communication Systems, Inc. (Nasdaq: TERN), today reaffirmed its fourth quarter financial guidance. For the fourth quarter ending December 31, 2003, the company expects a net loss in the range of $0.07 to $0.09 per share. Revenue will be in the range of $40 million to $43 million. The company also reconfirmed it expects to end the fourth quarter with a gross cash and short-term investments balance of approximately $136 million.
"We are pleased to be on track for our third consecutive quarter of revenue growth", said Terayon CEO Zaki Rakib, adding that he believed Terayon's new products were taking an increasing share of the cable modem termination systems (CMTS) market. In addition, he said, "Our cable modem unit shipments are showing strong growth and we believe we are well positioned to take additional market share this quarter. We feel these successes, combined with our ongoing focus on improving operating efficiencies and cost containment, put us on track to achieve profitability in the second quarter of 2004."
Published by Globes [online] - www.globes.co.il - on December 8, 2003