BigBand Networks said Thursday that Jeffrey Lindholm, senior vice president of sales and marketing, has retired from the video-processing equipment company.
Also Thursday, BigBand reported financial results for the quarter ended June 30. Revenues were $43.0 million, down 21% from $54.5 million in the second quarter of 2007. BigBand noted the year-ago period included $7.1 million in revenue from its subsequently retired Cuda cable modem termination system platform.
With Lindholm's departure, effective Aug. 1, chief operating officer David Heard will assume direct supervision of all sales activity to drive more direct customer focus, the company said in a filing with the Securities and Exchange Commission.
Asked for more information about why Lindhardt was leaving, BigBand director of corporate marketing David Ronald said in an e-mail that there was “not much to add to the [filing] other than to acknowledge the good job that Jeff has done, especially in strengthening our sales team.”
Lindholm joined BigBand in November 2006 as senior vice president of worldwide field operations. Previously, he was chief marketing officer for Juniper Networks, where he also served as vice president of worldwide sales. Lindholm also held executive positions in sales and support at Unisphere Networks, Redstone Communications, Bay Networks, New Oak Communications, Motorola and Wellfleet Communications.
Earlier this week, BigBand announced that it hired Susan George as regional vice president of cable sales, focusing on Comcast, Cablevision Systems, Cox Communications and other cable accounts. George previously worked at companies including Camiant, SeaChange International and Digital Media Studios.
For the second quarter, BigBand’s net income was $1.2 million, or $0.02 per diluted share, versus net income of $1.7 million, or $0.02 per diluted share, in the second quarter of 2007.
Special charges for the quarter included $2.4 million in stock-based compensation expense, $1.2 million in restructuring expense and $143,000 in amortization of intangibles, BigBand said. That was offset by a $287,000 benefit from the sale of CMTS platform inventory and $202,000 in income taxes.
For the third quarter of 2008, BigBand expects revenues between $46.0 million and $48.0 million, with net earnings per share is expected to be in the range of a loss of $0.02 to a profit of $0.01.