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Wind River flows back into the black

Edited by the Electronicstalk editorial team May 30, 2005

Wind River Systems has reported its first quarter fiscal year 2006 operating results.

Wind River Systems has reported its first quarter fiscal year 2006 operating results.

Total revenue for the first quarter ended 30th April 2005 was $61.8 million, a 17% increase compared with revenues of $52.8 million for the first quarter ended 30th April 2004.

"We are succeeding in driving the market shift to device software optimisation and the result is high-quality growth", stated Ken Klein, President, Chief Executive Officer and Chairman of Wind River.

Generally accepted accounting principles (GAAP) net income for the first quarter of fiscal year 2006 was $1.9 million, or earnings per share of $0.02 compared with net loss of $3.8 million, or net loss per share of $0.05 for the first quarter of fiscal year 2005.

Non-GAAP net income for the first quarter of fiscal year 2006 was $2.4 million, compared with non-GAAP net loss of $1.9 million for the first quarter of fiscal year 2005.

Non-GAAP net income per share was $0.03 for the first quarter of fiscal year 2006, compared with non-GAAP net loss per share of $0.02 for the first quarter of fiscal year 2005.

"We made progress against all of our key financial metrics - growing reported revenue and deferred revenue, as well as delivering strong earnings per share and operational cash flow", said Mike Zellner, Chief Financial Officer.

"We strengthened our balance sheet by repurchasing an additional $20 million of our convertible debt, ending the quarter with $55 million remaining outstanding".