Ruckus off to a strong start in 2016 with $100 million in revenue

Tue, 3rd May 2016

FYI, this story is more than a year old

Ruckus Wireless is experiencing significant success and continuing to grow its revenue, reporting $100.6 million for the first quarter of 2016, which is an increase of 22.5% from the first quarter of 2015.

"Our first quarter results were strong, with revenue at the high end of our updated guidance. Combining the revenue strength with a continual focus on operational execution, non-GAAP operating margin and non-GAAP earnings exceeded our previously updated guidance," says Selina Lo, Ruckus Wireless president and chief executive officer.

"I remain excited about our pending acquisition by Brocade, which will enable us to jointly deliver innovative, value-added solutions to our enterprise and service provider customers."

Ruckus Wireless non-GAAP net income was $12.2 million for the first quarter of 2016, compared with non-GAAP net income of $6.5 million for the first quarter of 2015. Non-GAAP operating income was $12.4 million for the first quarter of 2016, compared with non-GAAP operating income of $6.8 million for the first quarter of 2015.

GAAP net loss was $0.9 million for the first quarter of 2016, compared with GAAP net loss of $0.6 million for the first quarter of 2015. GAAP operating loss was $1.8 million for the first quarter of 2016, compared with GAAP operating loss of $1.5 million for the first quarter of 2015.

GAAP diluted net loss per share was $0.01 for the first quarter of 2016, compared with $0.01 for the first quarter of 2015. Non-GAAP diluted net income per share was $0.12 for the first quarter of 2016, compared with $0.07 for the first quarter of 2015.

According to Ruckus, key business highlights were:

Announcing that Brocade entered into a definitive agreement to acquire Ruckus Wireless, to create a company that addresses critical networking requirements from the data center to the wireless network edge.
Announcing OpenG technology to address the challenge of in-building cellular coverage and capacity. OpenG technology combines coordinated shared spectrum, with neutral host-capable small cells to enable cost-effective, ubiquitous in-building LTE coverage.
11ac access points in aggregate accounted for 78% of access point product sales in the first quarter of 2016. Wave 2 comprised 11% of access point product sales in the first quarter.

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