Citing strong sales activity in the second half of its fiscal year, Network Equipment Technologies now expects 2007 fourth quarter revenues to be in the range of $24.7 to $25.2 million, which is more than 80 percent greater than the same period of fiscal 2006.
The company had forecast revenues for its 2007 fourth quarter in the range of $22.5 to $24.5 million. Ending cash for the quarter is expected to be approximately $90 million, as compared to its guidance of approximately $85 million. The higher cash balance is due both to increased sales and to proceeds from the exercise of stock options.
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