Foundry Networks Reports Revenue of $86.7 Million, Increased Profitability

Foundry Networks reported Q4 revenue of $86.7 million, compared to $76.6 million in the third quarter, and to $65.4 million in the same period last year. Foundry earned net income of $10.5 million or $0.08 per diluted share in the December 2002 quarter, compared with net income of $7.0 million or $0.06 per diluted share in the prior quarter, and a net loss of $10.7 million or ($0.09) per diluted share for the same period in 2001. Foundry Networks ended 2002 with net income of $22.5 million for the year — its fourth consecutive year of profitability.
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