Jan
30
Written by:
Editor
1/30/2009 8:54 AM
Starent Networks, a provider of mobile-network technologies and services, has reported that it generated net revenues for the fourth quarter of 2008 of US$70.6 million, an increase of 40% from the fourth quarter of 2007. Net revenues for the full year ended December 31, 2008 were US$254.1 million, up 74% from the year ended December 31, 2007.Net income for the fourth quarter of 2008 was $17.5 million, compared to net income of $4.2 million for the fourth quarter of 2007. Net income for the full year ended December 31, 2008 was $60.5 million. Fourth quarter 2008 results included $4.0 million of non-cash stock-based compensation expenses compared to similar expenses of $4.3 million in the fourth quarter of 2007. The results for the full year ended December 31, 2008 included $16.5 million of non-cash stock-based compensation expenses compared to similar expenses of $12.8 million for the full year ended December 31, 2007.
Excluding the impact of stock-based compensation and assuming preferred shares were converted as of the beginning of the applicable period, non-GAAP net income for the fourth quarter of 2008 was $21.6 million, and non-GAAP net income for the full year ended December 31, 2008 was $70.4 million.
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