Procera� Networks Inc. (AMEX: PKT), a developer of Evolved Deep
Packet Inspection (DPI) solutions providing traffic awareness,
control and protection for complex networks, announced its earnings
for the fiscal quarter ending September 30, 2008 on a publicly
available conference call held yesterday.
The company reported revenues of $2,689,173 for the quarter
ending September 30, 2008, as compared with $1,645,657 for the
quarter ending September 30, 2007, an increase of 63.4 percent.
Operating expenses in the quarter ending September 30, 2008,
were $4,800,139, compared to $4,448,255 in the quarter ending
September 30, 2007. Procera's net operating loss for the quarter
ending September 30, 2008, was $(4,025,242), compared to a loss of
$(3,418,454) for the quarter ending September 30, 2007. Cash,
receivables, inventory, payables and accruals were $4,825,674,
$3,204,549, $2,120,786, $1,250,770 and $1,345,146, respectively, on
September 30, 2008, as compared to $8,594,225, $3,100,353,
$866,112, $1,197,645 and $1,362,655, respectively, on September 30,
2007.
"I believe it is clear that Procera has turned the corner as a
business and that 2009 is poised to be a breakout year for the DPI
industry. We intend to take full advantage of this opportunity,"
stated Jim Brear, President and CEO. "We are closing significant
deals, we continue to innovate with new products that exceed
customers' requirements and we are focused on operational
excellence -- all important elements of our continued success," he
added.
Key Highlights for Q3 2008 include:
-- Total bookings of $3,400,000.
-- A good balance of revenue across all geographies with 33 new customers
in Q3 2008.
-- Revenue contribution from channel partners grew from 20% last year to
over 55% in Q3 2008, fueling overall growth.
-- The transition to Tier-1 service providers is underway; the company
closed 2 new Tier-1 service providers in Q3 2008. Universities continued to
choose Procera, with 27 new universities purchasing Procera products Q3
2008.
-- The company's newest PacketLogic PL10000 Series accounts for more than
50% of revenue from Q3 2008. Procera continues to innovate with new product
introductions: the PL10002 and the PL7720.
An archive of the November 11 conference call will be available
in the Investor Relations section of Procera's website,
www.proceranetworks.com, beginning approximately Thursday, November
13.
About Procera Networks Inc.
Procera Networks Inc. delivers Evolved DPI solutions that give
service providers awareness, control and protection of their
applications and networks. Its core product suite, the PacketLogic
line of platforms, leverages the company's advanced identification
engine, DRDL(TM) (Datastream Recognition Definition Language), to
provide accurate identification of network traffic in real-time.
PacketLogic is deployed at more than 400 broadband service
providers, telcos, governments and higher education campuses
worldwide. Founded in 2002, Procera (AMEX: PKT) is based in Silicon
Valley and has offices around the globe. More information is
available at www.proceranetworks.com.
Safe Harbor Statement: This press release contains
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995 (the "Act"), including,
without limitation, statements related to the future outlook for
Procera Networks, Inc.'s ("Procera") business, the development of
new products and the general state of the DPI industry. In
particular, when used in this press release, the words "will,"
"believe," "expect," or "intend to," and similar conditional
expressions are intended to identify forward-looking statements
within the meaning of the Act and are subject to the safe harbor
created by the Act. Such statements are based upon the company's
current expectations, are subject to certain risks and
uncertainties and actual results could differ materially from those
expressed in any of the forward-looking statements. Such risks and
uncertainties include, but are not limited to, the ability of
Procera to commercialize the applicable technology and introduce
products and the acceptance of those products by the market, the
ability of resellers to sell the Procera products, market
conditions, the general acceptance of the Procera's products and
technologies, competitive factors, timing, and other risks
described in the Procera's annual report on Form 10-K for the year
ended December 31, 2007 and subsequent quarterly reports on Form
10-Q, as filed with the Securities and Exchange Commission. Procera
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein.
Procera Networks is a registered trademark, and PacketLogic and
DRDL are trademarks of Procera Networks, Inc. All rights reserved.
All other products or brands mentioned are trademarks and/or
service marks of their respective owners.
Press Contact Jay Nichols Sterling Communications 1-415-992-3210
jnichols@sterlingpr.com Investor Relations Contact John Liviakis
Liviakis Financial Communications, Inc. 1-415-389-4670
john@liviakis.com
Procera Networks, Inc. (AMEX:PKT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Procera Networks, Inc. (AMEX:PKT)
Historical Stock Chart
From Jul 2023 to Jul 2024