BigBand Networks, which went public earlier this year, made a net profit of $1.7 million in the second quarter, following a $1 million loss in the first quarter, as revenues grew 43% year on year to $54.5 million. Operating income increased to $42,000 compared to an operating loss of $0.4 million and a net loss of $0.6 million a year ago. Revenues for the first half of 2007 grew to $107.3 million, resulting in a net profit of $0.7 million to date. Operating income increased to $3.4 million during the first half of 2007 from an operating loss of $1.5 million in the first half of 2006. The network processing equipment vendor expects full year revenues to be in the range of $225-230 million.
This estimate did not change from earlier guidance, however the company expects higher expenses to hit earnings for 2007. Instead of 6 cents to 11 cents per share, it now expects to earn 3 cents to 8 cents per share. The stock had been down and up ahead of the result anouncement, as analysts expectations were reduced. The actual results did not meet expectations, $1.7 million instead of $5 million in earnings for the quarter, causing the shareprice to take a 19% hit in after hours trading, recovering by 12% on Friday.