7/18/2002 - Interphase Corporation (NASDAQ: INPH) today reported financial results for its second quarter ended June 30, 2002. Revenues for the quarter were $6.0 million, versus $7.1 million in the second quarter of 2001. While older legacy products continued to decline, its newer, telecom controller revenue climbed to 47% of revenue versus 19% one year ago and doubled from the second quarter of 2001, to $2.8 million.
The company recorded a net loss of $1.5 million during the quarter versus a loss of $6.0 million in the second quarter 2001, while the loss per share was $ (0.27) versus $ (1.05) for the same periods, respectively. Cash and securities rose $3.2 million during the quarter to $22.6 million.
"While the telecommunications sector continues to stall, we were able to double our revenues in telecom controllers and increase our cash position," stated Greg Kalush, President and Chief Executive Officer. "Some of our telecom design wins have started to go into production status and we expect further growth in the sector in spite of its current outlook. We hope this is a sign that telecommunications will begin a recovery albeit slower than we would like. During the quarter we announced our new iWARE™ enhanced software suites designed to optimize I/O performance as well as dramatically reduce telecommunication equipment manufacturers' software development efforts, so our customers will benefit greatly by using these software suites along with our board-level products. We believe our commitment to software that complements our boards will establish us as a premier infrastructure provider and lead to increasing design wins."
About Interphase Corporation
Interphase enables rapid platform design and integration for the global voice and data communications markets through custom and off-the-shelf communications equipment, embedded software development suites, and systems integration and consulting services for telecom and enterprise networks. The company's products connect computer and telecommunication servers to Wide Area Networks (WANs), Local Area Networks (LANs) and Storage Area Networks (SANs) using Asynchronous Transfer Mode (ATM), Ethernet, Signaling System 7 (SS7), IP, Fibre Channel, HDLC, Frame Relay and Integrated Services Digital Network (ISDN) technologies. Headquartered in Dallas, with offices across the United States, Paris, London, Munich and Bangkok, Interphase 2001 revenues were $28.7 million. Clients include Lucent Technologies, Nortel Networks, Ericsson, Hewlett-Packard, Alcatel, IBM, Compaq, Motorola, Fujitsu, Lockheed Martin and Raytheon. Additional information about Interphase and its products is available through the company's web site at www.interphase.com
The Interphase logo is a registered trademark of Interphase Corporation
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