Casa Systems Sees Bottom Fall Out in Q1 | Light Reading

Suffering through a nightmarish start to 2019, Casa Systems reported nearly a 60% drop in revenues for the first quarter on a year-over-year basis as sales of its cable, telco and wireless network access products and services collapsed across the board.

Overall company revenues plunged to just $35.5 million in the winter quarter, down from $89.1 million a year earlier, leading to the company to post its first quarterly loss in a decade.

“The first quarter was one of our toughest quarters,” said Casa President & CEO Jerry Guo in a bit of an understatement on a sober earnings call with analysts Wednesday evening. “We are extremely disappointed with the results.”

Source: Casa Systems Sees Bottom Fall Out in Q1 | Light Reading

READ  Top transformative technology trends of 2018 | IHS Markit

Leave a Reply

Your email address will not be published. Required fields are marked *