Terayon Lowers Loss in 1Q5/03/2005 9:49 AM Eastern
Terayon Communication Systems Inc. lowered its quarterly net loss despite a drop in revenue due to cost cuts in several departments.
The company posted a first-quarter net loss of $2.6 million on revenue of $26.4 million, compared to a net loss of $10.2 million on revenue of $41.2 million in the year earlier period. The company cut operating expenses from $22.5 million to $15.7 million, year over year, to lower its net loss.
Year-over-year revenue gains in its digital-video segment, from $6.1 million to $13 million, were not enough to offset a sharp decline in its cable-modem termination system business, which dropped from $11.1 million to $1.7 million.