Stratus Reports Decline In Profits
Stratus Technologies Bermuda Holdings Ltd., a global provider of uptime assurance, today [Jan.17] furnished its quarterly financial results with the United States Securities and Exchange Commission on Form 6-K for the fiscal quarter ended November 27, 2011.
With operations in Maynard, Massachusetts, Hamilton-headquartered Stratus Technologies Bermuda Holdings, Ltd. operates as a subsidiary of Stratus Technologies International Sarl.
For the third quarter ended November 27, 2011, total revenue was $51.7 million, a decrease of $4.3 million or 7.7 percent as compared to the $56.1 million in the third quarter ended November 28, 2010.
Profit from operations was $8.2 million compared to $11.0 million for the same period last year.
The net loss was $4.6 million compared to $0.6 million for the same period last year. The company reported Adjusted EBITDA, a non-GAAP financial measure, of $10.8 million compared to $13.9 million for the same period last year.
For the year-to-date period ended November 27, 2011, total revenue was $152.0 million, a decrease of $2.2 million or 1.4 percent as compared to the $154.2 million in the year-to-date period ended November 28, 2010.
Profit from operations was $24.0 million compared to $31.0 million for the same period last year.
Profit from operations for the year-to-date period ended November 28, 2010 included a gain on sale of subsidiary of $3.7 million related to the sale of its proprietary Emergent Networks Solutions VOIP Software business and certain net assets related to its telecommunications business in January, 2009.
The net loss was $16.8 million compared to $7.2 million for the same period last year.
Net loss for the year-to-date period ended November 27, 2011 includes a loss on extinguishment of debt of $1.2 million related to the excess cash flow offer made on June 30, 2011.
Net loss for the year-to-date period ended November 28, 2010 includes a loss on extinguishment of debt of $3.8 million related to the April 2010 refinancing.
The company reported Adjusted EBITDA, a non-GAAP financial measure, of $32.2 million compared to $37.1 million for the same period last year.
Stratus delivers uptime assurance for the applications its customers depend on most for their success. With its resilient software and hardware technologies, together with proactive availability monitoring and management, Stratus products help to save lives and to protect the business and reputations of companies, institutions, and governments the world over.
Read More About
Category: All, Business, technology
