Last $0.39 USD
Change Today +0.0085 / 2.24%
Volume 10.3K
IKAN On Other Exchanges
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NASDAQ CM
As of 10:20 AM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

ikanos communications inc (IKAN) Key Developments

Ikanos Communications, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 29, 2014; Provides Earnings Guidance for the Third Quarter of 2014

Ikanos Communications, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 29, 2014. Revenue for the second quarter of 2014 was $11.3 million, compared to revenue of $19.1 million for the second quarter of 2013. Loss from operations was $12.0 million against $8.2 million reported last year. Loss before income taxes was $12.2 million against $8.6 million reported last year. GAAP net loss for the second quarter of 2014 was $12.3 million, or a loss of $0.12 per basic and diluted share compared to a GAAP net loss of $8.7 million, or $0.12 per basic and diluted share for the second quarter of 2013. Non-GAAP net loss for the second quarter of 2014 was $11.3 million, or $0.11 per basic and diluted share compared to a non-GAAP net loss of $7.5 million, or $0.11 per basic and diluted share for the second quarter of 2013. Non-GAAP loss from operations was $11 million against $7.0 million reported last year. Non-GAAP loss before income taxes was $11.1 million against $7.5 million reported last year. For the six months, the company reported revenue of $25.8 million compared to $45.3 million reported in the same period last year. GAAP net loss was $22.6 million or $0.23 per basic and diluted share compared to a GAAP net loss of $13.1 million or $0.18 per basic and diluted share reported last year. Loss from operations was $22.45 million against $12.5 million reported last year. Loss before income taxes was $22.3 million against $12.9 million reported last year. Non-GAAP net loss was $20.5 million, or a loss of $0.21 per basic and diluted share compared to a non-GAAP net loss of $10.9 million or $0.15 per basic and diluted share for the second quarter of 2013. Non-GAAP loss from operations was $20.3 million against $10.3 million reported last year. Non-GAAP loss before income taxes was $20.2 million against $10.6 million reported last year. Revenue is expected to be between $11.0 million and $13.0 million for the third quarter of 2014. GAAP gross profit for the third quarter of 2014 is expected to be between 48% and 50%. Non-GAAP gross profit is expected to be between 49% and 51% for third quarter of 2014. GAAP net loss for third quarter of 2014 is expected to be in the range of approximately $8.3 million to $10.5 million, or a GAAP loss per share of $0.08 to $0.11. Non-GAAP net loss is expected to be in the range of approximately $7.2 million to $9.4 million, or a non-GAAP loss per share of $0.07 to $0.09.

Ikanos Communications, Inc., Q2 2014 Earnings Call, Jul 31, 2014

Ikanos Communications, Inc., Q2 2014 Earnings Call, Jul 31, 2014

Ikanos Communications, Inc. Appoints Moss Adams LLP as Independent Registered Public Accounting Firm for the Fiscal Year Ending December 28, 2014

Ikanos Communications, Inc. approved ratification of the appointment of Moss Adams LLP as the company’s independent registered public accounting firm for the fiscal year ending December 28, 2014 at its annual general meeting held on June 3, 2014.

Ikanos Communications, Inc. Approves Restated Certificate of Incorporation

Ikanos Communications, Inc. approved restated certificate of incorporation to increase the number of authorized shares of the company’s common stock from 150,000,000 to 200,000,000 at its annual general meeting held on June 3, 2014.

Ikanos Accelerates the Future of Broadband at COMPUTEX TAIPEI

Ikanos Communications, Inc. announced that it will demonstrate its next-generation broadband access and Vx500-based multi-mode residential gateways that support xDSL, Fiber, G.fast and LTE WAN connectivity at COMPUTEX TAIPEI, June 3 - 7, 2014. Additionally, Ikanos will showcase the latest advancements in high-speed connectivity over hybrid-fiber-copper networks and its inSIGHT Broadband Experience Management software for broadband access diagnostics and network monitoring and analytics.

 

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