Ikanos 2Q07 update
Communications Chip maker Ikanos earned a quarterly revenue of $25.7 million, up by just 4.47% compared to 1Q'07. The major causes for a relatively flatter revenues were all external: correction in inventory by carriers in Japan, product transition by Korean carriers and lower volume sales of ADSL modems in Europe. Ikanos's major portion revenue (almost 86%) comes from these countries and regions.
Of Ikanos product mix, revenues from chips going into Access equipment were around $13.88 million (54%) and the remaining 46% ($11.82 million) came from the Gateway market.
In 2Q'07, Asia-Pac was the main revenue contributor with Japan fetching 46% ($11.79 million) followed by Korea at $4.48 million. In Europe, France generated revenue of around $6 million for Ikanos.
NEC Corporation, Sagem, Altima and Uniquest brought in more than 10% revenue as direct customers for Ikanos during the quarter. In terms of OEM customers, NEC Corporation (Magnus), Sagem, Sumitomo Electric Industries and Dasan accounted for more than 10% of the revenues.
Ikanos also announced certain new products like VDSL2 Gateway Reference Platform together with Atheros, licensing GPON Phy layer from Terawave, Fusiv Vx180, VDSL gateway processor and Vx170 gateway processor for FTTH residential gateways. It also had some design wins for Fusiv Vx200 processor and Fx 100100-5 CO chipset. The vendors that selected Ikanos included Asustek, Tailyn, NetCologne and Dasan.
During the quarter, in May, Michael A Ricci took over as the new President and CEO replacing Daniel Atler, who was the interim CEO.
