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Ruckus Wireless revenue up 79 pc y-o-y

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Deepa
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BANGALORE, INDIA: Ruckus Wireless has reported a 79 per cent increase in its revenue in 2012.

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Announcing its financial results for fourth quarter and year-ended December 31, 2012, the company in a statement said that in 2012 its revenue was $214.7 million, while it was $120.0 million in 2011, thus an increase of 79 per cent.

GAAP net income for 2012 was $31.7 million, compared with net income of $4.2 million in 2011. Non-GAAP net income for 2012 was $42.9 million, compared with $7.4 million in 2011.

Revenue for the fourth quarter was $62.2 million, an increase of 51 per cent when compared to $41.0 million reported in the fourth quarter of 2011. GAAP net income for the fourth quarter was $1.9 million, compared with a net income of $3.2 million in the fourth quarter of 2011.

Non-GAAP net income for the fourth quarter was $6.1 million, compared with non-GAAP net income of $4.9 million in the fourth quarter of 2011.

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GAAP net income per diluted share was $0.03 for the fourth quarter of 2012 compared to $0.02 for the fourth quarter of 2011 based on net income attributable to common stockholders. Non-GAAP net income per diluted share was $0.07 for the fourth quarter of 2012 compared to $0.07 for the fourth quarter of 2011.

GAAP net income per diluted share was $0.24 for 2012 compared to $0.02 for 2011 based on net income attributable to common stockholders. Non-GAAP net income per diluted share was $0.54 for 2012 compared to $0.11 for 2011. 2012 included a tax benefit of $17.2 million primarily related to the release of the valuation allowance on our net deferred tax assets.

"2012 was an exciting year for Ruckus Wireless. In addition to completing our IPO, we continued to make progress on our business objectives while growing our revenue 79 per cent and significantly increasing profitability over the prior year," said Selina Lo, president and chief executive officer, Ruckus Wireless. "A major beneficiary of the mobile Internet movement, Wi-Fi is a secular growth opportunity and Ruckus is well-positioned to capitalize on it in 2013 and beyond."

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