PowerPole
17 years ago
News for 'RBAK' - (DJ Redback Networks, Jabil Circuit Enter Manufacturing Pact)
Redback Networks Inc. (RBAK) and Jabil Circuit Inc. (JBL) have signed a manufacturing agreement under which Jabil will make certain products for Redback, according to a regulatory filing Friday.
The manufacturing deal has a one-year term, according to a Securities and Exchange Commission filing. Production volumes and pricing weren't included in the filing, but Redback said the two companies will decide those figures on a quarterly basis.
Redback, based in San Jose, provides telecommunications networking equipment. Jabil Circuit, St. Petersburg, Fla., provides electronic manufacturing services.
-Antonie Boessenkool, Dow Jones Newswires; 202-862-7139; antonie.boessenkool@dowjones.com
(END) Dow Jones Newswires
January 12, 2007 15:06 ET (20:06 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.- - 03 06 PM EST 01-12-07
PowerPole
17 years ago
News for 'RBAK' - (Headline Maker: Redback Networks Expects Lower Revenue for Fiscal Quarter Ended December 31, 2006)
Jan 08, 2007 (M2 PRESSWIRE via COMTEX) -- Redback Networks Inc. (NASDAQ:RBAK)
manages 50 million broadband connections for 15 of the top 20 telephone carriers
worldwide. Redback's multi-service routing platform delivers next generation
broadband services such as VoIP, IPTV and On-Demand Video. Redback Networks has
more than 500 carrier customers worldwide and is based in San Jose, CA. In 2006,
Redback marks its 10 year anniversary, celebrating ten years of broadband
innovation. For more information, visit Redback Networks at www.redback.com.
At the time of this writing shares are trading at $24.78 with over 20.9 million
in volume. Redback Networks Inc. (NASDAQ:RBAK) announced that it preliminarily
expects lower than anticipated revenue of approximately $64 million for the
fiscal quarter ended December 31, 2006.
MarketGainer.com has emerged as the most exciting online financial newsletter!
For international, small-cap investors who are looking to stay a step ahead of
the markets visit MarketGainer.com.
"The fourth quarter was our largest quarter ever for the SmartEdge products as
we experienced substantial quarter over quarter revenue growth and the
acquisition of several new large SmartEdge customers," said Kevin DeNuccio,
president and chief executive officer, Redback Networks. "Unfortunately we
failed to meet our revenue targets due to, among other reasons, distribution
channel disruptions caused by the timing of our proposed acquisition by
Ericsson, and lower than expected revenue from our older SMS product line as we
transitioned our largest SMS customers in the fourth quarter to our SmartEdge
products. We expect that substantially all of the delayed purchases will become
revenue in 2007."
Mr. DeNuccio continued, "We are excited about the progress we made last quarter
with our SmartEdge product line, and the positive reactions of our customers to
the Ericsson proposed acquisition. I want to assure our shareholders, customers
and employees that Ericsson's plans for the pending transaction remain
unchanged."
The full financial details of the quarter's results will be presented at
Redback's regularly scheduled fiscal fourth quarter 2006 results conference call
on January 30, 2007 at 1:45 p.m. Pacific Time. The details of the call and
webcast are as follows:
Date: Tuesday, January 30, 2007 Time: 1:45 p.m. PT/2:45 MT/3:45 CT/4:45 ET
Domestic Dial-in phone number: 1-800-559-2403 International Dial-in phone
number: 1-847-619-6534 Passcode: 16677677
Webcast: You can also participate in the conference call via your computer by
registering your name on Redback's Investor Center at: http://ir.redback.com.
The conference call will be archived on Redback's Investor Center website. A
replay will be accessible by telephone one hour after conclusion of the call
until February 26, 2007.
To ensure that the conference begins in a timely manner, please dial in 10
minutes prior to the scheduled start time.
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PowerPole
17 years ago
Sonus CEO says Redback sale good for industry:
Says proposed Ericsson purchase further legitimizes new technologies...
By Jeffry Bartash, MarketWatch
Last Update: 4:53 PM ET Dec 20, 2006
http://tinyurl.com/yysnd2
WASHINGTON (MarketWatch) - Sonus Networks Chief Executive Hassan Ahmed said Wednesday that Ericsson LM's proposed $2.1 billion acquisition of Redback Networks Inc. could accelerate the migration toward "next-generation" network technology and lead to all kinds of new services for consumers in a few years.
The decision to purchase Redback (RBAK), Ahmed said, indicates that Ericsson and other traditional equipment vendors are finally realizing the potential of the new technologies.
"Incumbent suppliers are waking up and moving the ball forward to build the broadband architecture of the future," the Sonus (SONS) CEO said in an interview with MarketWatch.
For decades, Ericsson (ERIC) has been a leading provider of circuit-switched or "legacy" equipment used in networks of large communications companies. Yet carriers are increasingly removing older gear and substituting new Internet-based technologies.
Internet-based technologies are cheaper to operate in the long run and better suited to enable phone or cable companies to offer the so-called triple play - voice, video and high-speed Internet service. In the U.S. and other developed nations, the race is on to see who can deliver all the services a customers needs, all on one bill.
The problem with older technologies, Ahmed said, is that they limit the choices of where and when a customer can receive a service. "There's only one way to watch your cable channel - on your TV," he said.
Newer network technologies, some of which are known as IP multimedia subsystems, would allow carriers newfound flexibility to tailor their services to the needs of each individual customer, he said. Any device connected to a network could receive virtually any service.
For example, customers could watch TV on their mobile phone or computer, or receive text or wireless messages on their television.
"IMS knows who you are and what services you can have," Ahmed said.
Sonus, based in Chelmsford, Mass., develops equipment that helps carriers to deliver Internet-based phone service. San Jose, Calif.-based Redback makes products that help network operators to deliver television and other services over the Internet. The companies are not direct competitors.
Like Redback, Sonus has developed a good reputation for its technology and products and has struck deals with four of the world's five largest network operators, Ahmed said. He estimate that about 20% of the world's Internet-telephone traffic crosses over technology supplied by Sonus.
Asked if Sonus has been approached by potential suitors, Ahmed declined to comment. He said the company is working every day to improve its products and believes Sonus could be a long-term competitor in the industry.
Competitors of Sonus include the much-larger Nortel Networks Inc. (NT) and Alcatel-Lucent (ALU), the recently combined French-American entity. One reason Alcatel sought to acquire Lucent was to gain access to its promising IMS-related technologies.
Jeffry Bartash is a reporter for MarketWatch in Washington.
PowerPole
17 years ago
U.S. stock futures rise on tech hopes, Asia rally:
Ericsson buying Redback for $2.1 billion in deal that will challenge Cisco...
By Steve Goldstein, MarketWatch
Last Update: 8:06 AM ET Dec 20, 2006
http://tinyurl.com/yxjopv
LONDON (MarketWatch) -- U.S. stock futures advanced on Wednesday, on hopes for technology sector gains after Ericsson agreed to buy a network hardware company and by a recovery in Asian stock markets after Thailand's government reversed course on a widely-derided decision to limit foreign investment.
S&P 500 futures rose 2.10 points at 1,438.30 and Nasdaq 100 futures rose 7.00 points at 1,810.25. Dow industrial futures gained 12 points at 12,563.
On Tuesday, the Dow industrials hit a record high, led by gains in the energy sector on a rise in crude oil prices. The Dow rose 30 points, the S&P 500 rose 3 points, while the Nasdaq Composite lost 6 points.
Asian stocks reversed Tuesday's losses, after Thailand's government reversed a decision on capital controls.
Thailand's benchmark SET index rallied 11% -- though that didn't fully offset Monday's losses -- and the Nikkei 225 advanced 1.4% in Tokyo. European stock markets also rose on Wednesday. Read more about Thailand's rebound.
Crude oil futures rose 38 cents at $63.84 a barrel after Tuesday's gains, with weekly energy data on tap. Analysts expect gasoline inventories to rise.
The euro rose slightly on the dollar, while the dollar was flat against the yen.
Of companies in focus, Ericsson (ERIC) agreed to buy Redback Networks (RBAK) for $2.1 billion cash, an 18% premium to Tuesday's close. The deal in part will allow the Swedish telecommunications equipment maker to more closely compete against Cisco Systems (CSCO).
Redback shares rallied 17% at $24.32 in pre-open trading, while Ericsson advanced 0.8% to $40.91
Juniper Technologies (JNPR), which was downgraded by CIBC World Markets, slipped 2.1% at $18.81
Cisco was unchanged at $27.64
Arcelor Mittal (MT) continued steel sector consolidation with its deal to buy Mexico's Sicartsa for $1.44 billion from Grupo Villacero. Mittal shares tacked on 1.5% to $42.03 ahead of the open.
Harrah's Entertainment (HET) late Tuesday agreed to be bought by two private-equity firms for $90 a share in cash, or $27.8 billion when including assumed debt. Texas Pacific Group and Apollo Management topped a bid from Penn National Gaming (PENN), according to published reports.
Outside of M&A, Dell Computer (DELL) late Tuesday named Donald Carty as its new chief financial officer, replacing James M. Schneider. The move is effective Jan. 1 and comes amid a probe into stock options accounting. The stock edged up 2 cents to $26.14 in pre-open trading.
Pepsi Bottling (PBG) forecast 2007 earnings for the first time with a per-share forecast between $1.92 and $2 a share that came in below Wall Street estimates. It held to its 2006 outlook.
Ford Motor (F) was upgraded, for a second-straight day, by KeyBanc Capital to hold from sell. Analyst Brett Hoselton said that while fundamentals aren't expected to improve meaningfully in 2007, he does see earnings deterioration at the automaker tapering off.
Greenbrier Companies (GBX) said fiscal first-quarter earnings would miss its earlier expectations due to weakness at its North American railcar making unit.
Women's clothing retailer Christopher & Banks (CBK) forecast fourth-quarter earnings below consensus estimates.
Medical products maker FoxHollow Technologies (FOXH) cut its fourth-quarter sales outlook. Merck & Co. (MRK) last month bought an 11% stake in the company.
Quarterly results are due from FedEx (FDX), Darden Restaurants (DRI), and after the close of trading, Nike Inc. (NKE) and Bed Bath and Beyond (BBBY).
Steve Goldstein is MarketWatch's London bureau chief.
PowerPole
17 years ago
Invitation to Ericsson Press and Analyst Conferences:
Last Update: 7:19 PM ET Dec 19, 2006
STOCKHOLM, SWEDEN, Dec 19, 2006 (MARKET WIRE via COMTEX) -- Ericsson (ERIC) and Redback Networks Inc. (RBAK) have today announced that they have signed a definitive agreement under which Ericsson will acquire Redback for USD 25.00 per share, or an aggregate price of approximately USD 1.9 billion. The offer represents a premium of 60 percent to Redback's [90-day] volume weighted average stock price.
PRESS CONFERENCE AND LIVE WEBCAST:
The press conference will begin at 9am CET (8am UK time, 3am EST and 5pm local time Japan) at Ericsson headquarters, Torshamnsgatan 23, Kista, Sweden. Ericsson President and CEO Carl-Henric Svanberg will comment on the announcement and take questions.
A live webcast of the press conference will be available on the internet at
www.ericsson.com/investors
and
www.ericsson.com/press
CONFERENCE CALL FOR ANALYSTS, INVESTORS AND MEDIA:
The conference call for financial analysts, investors and media will begin at 3pm CET (2pm UK time, 9am EST and 11pm local time Japan). Svanberg will comment on the announcement and take questions. Please call in at least 15 minutes before the conference call begins. Because there is usually a large number of callers, it might take some time before you are connected.
A live audio webcast of the conference call will be available on the internet at www.ericsson.com/investors and www.ericsson.com/press.
The call-in numbers for the conference call are: Sweden: +46 (0)8 5352 6408 UK & Europe: +44 (0)20 7806 1955 U.S. & International: +1 718 354 1388
REPLAY:
A replay of the conference call will be available from about two hours after the completion of the conference call and will be available until December 22, 6pm CET.
Sweden: +46 (0)8 5876 9441 UK & European replay number: +44 (0)20 7806 1970 U.S. replay number: +1 718 354 1112 Replay access code: 9817420#
An on-demand audio webcast of the press conference and the conference call will be available on the internet at www.ericsson.com/investors and www.ericsson.com/press during the day. Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.
Read more at www.ericsson.com
Copyright Copyright Hugin ASA 2006. All rights reserved.
FOR FURTHER INFORMATION, PLEASE CONTACT Ericsson Media Relations Phone: +46 70 222 7744, +46 8 719 6992 E-mail: Contact via http://www.marketwire.com/mw/emailprcntct?id=FC1A615AAF5AB154 Ericsson Investor Relations Phone: +46 8 719 0858 E-mail: Contact via http://www.marketwire.com/mw/emailprcntct?id=7D67925941378BA5 Investor Relations, North America Phone: +1 212 843 8435 E-mail: Contact via http://www.marketwire.com/mw/emailprcntct?id=A3AA21B77216093B
SOURCE: Ericsson
Copyright 2006 Market Wire, All rights reserved.
PowerPole
17 years ago
Redback to Be Acquired by Ericsson for $2.1 Billion...
Tuesday December 19, 7:03 pm ET
Redback to Retain Management, and Grow Its Routing Operations Worldwide As an Independent, Wholly-Owned Subsidiary of Ericsson...
http://biz.yahoo.com/bw/061219/20061219006127.html?.v=1
SAN JOSE, Calif.--(BUSINESS WIRE)--Redback Networks Inc. (NASDAQ: RBAK - News), a market leader in multi-service edge routing for next generation broadband networks, is today announcing a definitive agreement to be acquired by Ericsson (NASDAQ: ERIC - News), the world's leading telecommunications supplier, for $2.1 billion or $25 dollars per Redback share. The acquisition is expected to occur by means of a tender offer for all of the outstanding shares of Redback common stock. The acquisition is subject to customary closing conditions and regulatory approvals, and is expected to be completed in early 2007.
The acquisition of Redback will play a key role in Ericsson's strategy to help telecommunications carriers lower costs and upgrade their networks for broadband, telephone, video and mobility services. Redback will retain its management team and operate as a wholly-owned subsidiary of Ericsson. In accordance with the acquisition, Redback plans to accelerate its product development and continue to expand its operations to meet growing customer demands for next generation broadband networks. Redback will continue to focus on video and mobility routing markets to leap-frog its traditional competitors.
"This agreement is about accelerating market growth, integrating IP routing and mobility expertise and shaping the future of next generation networks. Video changes everything about networks today. Redback is the acknowledged technology leader delivering broadband, phone, video and mobility services over Internet-based infrastructures," said Kevin DeNuccio, Redback president and CEO, who will report directly to a management board chaired by the president and CEO of Ericsson, Carl-Henric Svanberg. "We believe Redback now will have the global reach and financial resources to accelerate its own routing technology innovation and grow market share faster than our traditional routing competitors."
"Redback has always had a well-known technology advantage over its larger routing competitors in broadband services edge routing," said Carl-Henric Svanberg of Ericsson. "We believe the combined strengths of both companies in mobility and IP routing will create significant value for customers and shareholders. Today's agreement accelerates Ericsson's ambition to build leadership in the fast growing broadband and IP services market."
The total addressable market for IP edge routing is expected to exceed $5 billion by 2009, according to the Yankee Group. Ericsson and Redback believe there is market opportunity to upgrade more than two billion wired and wireless users worldwide over the next ten years to all IP-based broadband infrastructures. This opportunity is ten times larger than the 250 million broadband users today. On a worldwide basis, all carriers have some plans to unify communications and entertainment services over IP-based broadband networks.
Citigroup and SEB Enskilda are acting as Ericsson's financial advisors in the acquisition. UBS is acting as the financial advisor for Redback.
About Redback Networks:
Redback Networks Inc. manages 50 million broadband connections for 15 of the top 20 telephone carriers worldwide. Redback's multi-service routing platform delivers next generation broadband services such as VoIP, IPTV and On-Demand Video. Redback Networks has more than 500 carrier customers worldwide and is based in San Jose, CA. In 2006, Redback marks its 10 year anniversary, celebrating ten years of broadband innovation. For more information, visit Redback Networks at www.redback.com.
Redback Media Relations
Zenobia Austin Godschalk, BPR
(w) 404.848.9507
(c) 650.269.8315
About Ericsson
Ericsson is shaping the future of mobile and broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create some of the most powerful communications companies in the world. For more information visit: www.ericsson.com
Ericsson Media Relations
Phone: +46 8 719 6992
E-mail: press.relations@ericsson.com
Investor Relations, North America
Phone: +1 212 843 8435
E-mail: investor.relations@ericsson.com
CONFERENCE CALL
Meeting Date: Wednesday, December 20, 2006 08:00 AM (Pacific Time)
To Join Audio Conference
Primary Dial-In: 1 (800) 559-2403
Alternate Dial-In: 1 (847) 619-6534
Please be prepared to provide the following information to gain access to your audio conference call.
Confirmation Number: 16614405
Host Name: Kevin DeNuccio
Company: Redback Networks, Inc
A webcast has been set-up for press and industry analysts. The weblink is below.
http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=80 517&eventID=1443118 (Due to its length, this URL may need to be copied/pasted into you Internet browser's address field. Remove the extra space if one exists.)
* REDBACK and SmartEdge are trademarks registered at the U.S. Patent and Trademark Office and in other countries. NetOp is a trademark of Redback Networks Inc. All other products or services mentioned are the trademark, service marks, registered trademarks or registered service marks of their respective owners.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SECURITIES. THE SOLICITATION AND THE OFFER TO BUY SHARES OF REDBACK COMMON STOCK WILL ONLY BE MADE PURSUANT TO AN OFFER TO PURCHASE AND RELATED MATERIALS THAT ERICSSON INTENDS TO FILE WITH THE SECURITIES AND EXCHANGE COMMISSION. REDBACK STOCKHOLDERS AND OTHER INVESTORS SHOULD READ THESE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. ONCE FILED, REDBACK STOCKHOLDERS AND OTHER INVESTORS WILL BE ABLE TO OBTAIN COPIES OF THE TENDER OFFER STATEMENT ON SCHEDULE 'TO', THE OFFER TO PURCHASE AND RELATED DOCUMENTS WITHOUT CHARGE FROM THE SECURITIES AND EXCHANGE COMMISSION THROUGH THE COMMISSION'S WEB SITE AT WWW.SEC.GOV. REDBACK STOCKHOLDERS AND OTHER INVESTORS ALSO WILL BE ABLE TO OBTAIN COPIES OF THESE DOCUMENTS, WITHOUT CHARGE, FROM THE INFORMATION AGENT FOR THE OFFER, THE DEALER MANAGER FOR THE OFFER, OR FROM ERICSSON. STOCKHOLDERS AND OTHER INVESTORS ARE URGED TO READ CAREFULLY THOSE MATERIALS PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO THE OFFER.
Statements in this release that are not statements of historical fact may include forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements concerning the completion of the transactions contemplated by the merger agreement, including the merger and the timing thereof and the business opportunities afforded by the merger. Important factors that may cause actual results to differ include: risks that could prevent or delay the closing of the transaction, including customary conditions to closing an acquisition transaction of this type, including obtaining requisite regulatory clearances, and acceptance of the offer by holders of a sufficient number of shares of Redback common stock. For a discussion of other risks facing Redback's business, please refer to the documents filed by Redback Networks Inc. with the United States Securities and Exchange Commission from time to time.
Contact:
Redback Networks
Doug Wills, 408-750-5038 (Media)
dwills@redback.com
Investor Relations, 408-750-5505
investor_relations@redback.com
Source: Redback Networks Inc.
PowerPole
17 years ago
News for 'RBAK' - (Large Cap News: Current Research on Redback Networks Inc)
Dec 15, 2006 (M2 PRESSWIRE via COMTEX) -- Current Research on Redback Networks
Inc (NASDAQ:RBAK)
Redback is a member of the DSL pack. Redback Networks' equipment lets
telecommunications companies and Internet service providers deliver broadband
services to their subscribers. The company's Subscriber Management Systems
connects large numbers of network users so companies can deploy high-speed
broadband (primarily digital subscriber line) access to the Internet. Redback
also sells a system (SmartEdge) that enables carriers to provide optical and
Internet protocol data transmission within metropolitan networks. The company's
customers include AT&T andBellSouth.
Shares were up 11% after it won the second phase of a major contract with
China's biggest telecom carrier.
BellwetherReport.com is a leading online research firm for international
investors looking to get an edge over their portfolio. Investors seeking the
most up to date information on Redback Networks Inc are invited to sign up for a
free complimentary subscription to www.bellwetherreport.com. No credit card
needed!
Stock in Redback Networks Inc. shot up nearly 12 percent Thursday, a day after
it said it won the second phase of a major contract with China's biggest telecom
carrier.
San Jose-based Redback said Guangdong Telecom will use its routers to deliver
broadband internet, IPTV and virtual private network services for up to 4
million homes and businesses, Its stock closed $1.78 to $16.94 Thursday. Redback
had dropped by half between May when it was trading as high as $24.99 and July
21 when it sank to $12.40.
More information on Redback Networks Inc available in the members section of
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PowerPole
17 years ago
What an AMAZING week RBAK just had!...
Here are the charts and news:
The 15 minute chart shows the Bollinger Bands (BB) squeezing together real tight, so a move one way or another is coming soon...The chart pattern for Friday looks like it might be a Double-Top, and the lower BB is already moving down...CMF Money Flow dropped below zero at 3pm Friday, but OBV and Accumulation look fairly strong...The CCI is upticking off it's low and may cross up through the -100 line...RSI is showing some weakness and the ADX is neutral...Stochastics show it bouncing up off of Oversold and the MACD is downticking...
The hourly chart shows the potential upside to the upper BB is almost $19.00 but with the diminishing Volume it might not make it there unless the Volume really picks up again...Most of the Indicators look fairly bullish except the MACD Histogram...There could be a retracement to the 15SMA @ $17.50 or even down to $17.00 to the SAR target...Or it could just head on up to the upper BB...
The daily chart shows the PPS way outside the upper BB...What I find interesting is Money Flow and Accumulation are not higher on this move, but the OBV is...CCI looks to be getting toppy and when it turns down this run is over...RSI, ADX, and MACD look very bullish, but Stochastics say it's approaching very Overbought...
Money flow on this daily chart is just now breaking above zero...Stochastics show it's not even at 80 yet and still upticking, and the Williams%R is still upticking but in Overbought territory...If the RSI can finally break above 70 for once, this Rally could continue for more...
This weekly chart shows a tall green candlestick for last week that's getting close to touching the upper BB...ALL of the Indicators are upticking, and the Volume last week was very good...I'd like to see the MACD fast and slow lines break up through zero next week...
This weekly chart shows the potential upside to the upper BB is $18.90 though it already touched the SAR price target...CMF, OBV, and A/D are upticking sharply...The RSI breaking above 50 is a bullish sign...CCI crossing up through the +100 line is a Buy Signal to some traders...It looks like the MACD fast line has crossed up through the slow line, another bullish sign...Aroon (25) green is upticking while red is still falling...Stochastics show it's not even close to being Overbought, while W%R shows it is...
This weeks BULLISH MOVE for RBAK was caused by four factors IMO...
1) On Monday, RBAK announced "The Carphone Warehouse Selects Redback to Help Deliver Free Broadband Services in the U.K.":
http://biz.yahoo.com/bw/061204/20061204005457.html?.v=1
2) On Wednesday, RBAK announce a MAJOR DEAL in China:
"Redback Wins Next Phase of Large Carrier Deal in China A Guangdong Telecom to Serve Four Million Broadband Users Using Redback Equipment".
http://biz.yahoo.com/bw/061206/20061206005346.html?.v=1
3) CEO Denuccio spoke at the Lehman Investors Conference Wednesday evening, and it was a VERY Bullish presentation IMO:
http://biz.yahoo.com/bw/061204/20061204006193.html?.v=1
You can listen to the webcast here:
http://cc.talkpoint.com/LEHM002/120706a_jw/?entity=Redbacks
4) Of course this Thursday article probably helped too:
http://www.lightreading.com/document.asp?doc_id=112390&WT.svl=news1_2
What will RBAK do next week?...IMO the "Trend is your Friend!"...My guess is RBAK will be higher by the closing bell next Friday...
Good Luck To ALL ;^))
PowerPole
17 years ago
News for 'RBAK' - (Blue Chip News: Fundamental Review for Redback Networks Inc)
Dec 07, 2006 (M2 PRESSWIRE via COMTEX) -- Fundamental Review for Redback
Networks Inc (NASDAQ:RBAK)
Redback Networks, Inc. provides advanced telecommunications networking equipment
in North America, Europe, the Middle East, Africa, and Asia-Pacific. It offers
SmartEdge service gateway that combines scalable carrier-class edge routing,
Ethernet aggregation, and advanced subscriber management; SMS product families,
which enable service providers and carriers to provide, aggregate, and manage
broadband and dialup subscribers, and services through a single and unified
platform; and the NetOp policy manager, a software platform that allows policy
management and control across the SmartEdge and SMS product families. The
company's products enable service providers to build Internet protocol-based
broadband networks to deliver high-speed access and services to consumers and
businesses. It has collaboration agreements with DSL Forum, Broadband Services
Forum, TIA, United States Telecom Association, and Isocore. As of March 20,
2006, Redback Networks had a customer base of approximately 500 carriers and
service providers, including local exchange carriers, inter-exchange carriers,
post, telephone and telegraph, and service providers. It sells its products
through direct sales force, resellers, and distribution partners. The company
was founded in 1996 and is headquartered in San Jose, California.
Shares were up 10% after announcing it has won the second phase of a broadband
network upgrade with largest provincial carrier in China.
BellwetherReport.com is a leading online research firm for international
investors looking to get an edge over their portfolio. Investors seeking the
most up to date information on Redback Networks Inc are invited to sign up for a
free complimentary subscription to www.bellwetherreport.com. No credit card
needed!
Redback Networks Inc. , a leading provider of multi-service edge routers for
next generation broadband networks, announced it has won the second phase of a
broadband network upgrade with largest provincial carrier in China. Guangdong
Telecom will use Redback's SmartEdge family of multi-service edge routers to
deliver broadband internet, IPTV and virtual private network (VPN) services for
up to four million homes and businesses.
Today's announcement is one of the largest network upgrades that Redback will
help manage in China. Guangdong Telecom is the largest independently run
provincial carrier of China Telecom, which has an estimated 50+ million
customers. Guangdong Telecom contributes one-quarter of China Telecom's revenues
and one-third of China Telecom's profit. Guangdong Telecom is planning to grow
the broadband business more aggressively and double the number of broadband
subscribers in the next one or two years.
More information on Redback Networks Inc available in the members section of
www.BellwetherReport.com.
To review research on Redback Networks Inc as well as many more exciting
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PowerPole
17 years ago
News for 'RBAK' - (Redback Wins Next Phase of Large Carrier Deal in China A Guangdong Telecom to Serve Four Million Broadband Users Using Redback Equipment)
SAN JOSE, Calif., Dec 06, 2006 (BUSINESS WIRE) -- Redback Networks Inc.
(NASDAQ:RBAK), a leading provider of multi-service edge routers for next
generation broadband networks, today announced it has won the second phase of a
broadband network upgrade with largest provincial carrier in China. Guangdong
Telecom will use Redback's SmartEdge(R) family of multi-service edge routers to
deliver broadband internet, IPTV and virtual private network (VPN) services for
up to four million homes and businesses.
Today's announcement is one of the largest network upgrades that Redback will
help manage in China. Guangdong Telecom is the largest independently run
provincial carrier of China Telecom, which has an estimated 50+ million
customers. Guangdong Telecom contributes one-quarter of China Telecom's revenues
and one-third of China Telecom's profit. Guangdong Telecom is planning to grow
the broadband business more aggressively and double the number of broadband
subscribers in the next one or two years.
With more than 50 million broadband customers, China is Redback's second largest
market outside of the United States. In the last 18 months, Redback's
SmartEdge(R) multi-service edge routers have been deployed in 22 of the 32
provinces in China. For China Telecom, this includes provincial carriers in
Guangdong, Zhejiang, Fujian, Anhui, Hubei, Jiangxi, Yunnan, Shaanxi, Ningxia,
Heilongjiang and Tibet. For China Netcom, this includes similar deployments in
Shandong, Liaoning, Hebei, Heilongjiang, Jilin, Henan, Shanxi, Inner Mongolia,
Zhejiang, Chongqing and Yunnan.
"We thank Guangdong Telecom for selecting Redback," said Simon Williams, vice
president of sales and operations in Asia at Redback Networks. "Building out
broadband networks strengthens worldwide competitiveness, and we are pleased
that Guangdong Telecom leaders share Redback's vision of single IP network for
broadband data, voice and video services. Over time, we see a future where all
communications services will be managed in harmony under a single IP-based
broadband infrastructure."
Twelve of the top 20 DSL carriers worldwide deploy Redback's SmartEdge(R)
multi-service edge routers to deliver broadband services to tens of millions of
business and residential customers worldwide. These customers include British
Telecom, Belgacom, BellSouth, China Telecom, China Netcom, Chunghwa Telecom,
France Telecom, Korea Telecom and Turk Telecom, among others.
About Redback Networks:
Redback Networks Inc. manages 50 million broadband connections for 15 of the top
20 telephone carriers worldwide. Redback's multi-service routing platform
delivers next generation broadband services such as VoIP, IPTV and On-Demand
Video. Redback Networks has more than 500 carrier customers worldwide and is
based in San Jose, CA. In 2006, Redback marks its 10 year anniversary,
celebrating ten years of broadband innovation. For more information, visit
Redback Networks at www.redback.com.
REDBACK and SmartEdge are trademarks registered at the U.S. Patent and Trademark
Office and in other countries. NetOp is a trademark of Redback Networks Inc. All
other products or services mentioned are the trademark, service marks,
registered trademarks or registered service marks of their respective owners.
Note Regarding Forward-Looking Statements:
The statements contained in this press release that are not purely historical
are forward-looking statements within the meaning of Section 21E of the
Securities and Exchange Act of 1934, as amended. These statements include but
are not limited to statements regarding our expectations, beliefs, intentions or
strategies regarding the future and including, without limitation, statements
regarding China's expected deployment of broadband services and IPTV services;
the expectation that Guangdong Telecom will serve up to three million broadband
subscribers using Redback products; that carriers will support fewer networks
and migrate wireless and wire-line users to a single broadband infrastructure;
and the ability of Redback's products to help Guangdong Telecom and other
carriers deliver such services. All forward-looking statements included in this
document are based upon information available to us as of the date hereof, and
we assume no obligation to update any such forward-looking statements.
Forward-looking statements involve risks and uncertainties, which could cause
actual results to differ materially from those projected. These risks and
uncertainties relating to our business as set forth in the documents filed by
Redback Networks with the Securities and Exchange Commission (SEC), specifically
the most recent report on Form 10-K for the fiscal year ended December 31, 2005,
Form 10-Q for the quarter ended September 30, 2006, Forms 8-K, and amendments
thereto, and the other reports filed from time to time with the SEC.
SOURCE: Redback Networks Inc.
CONTACT: Redback NetworksDoug Wills, 408-750-5038 (Media)dwills@redback.comInvestor Relations, 408-750-5505investor_relations@redback.com
Copyright Business Wire 2006
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