Source: Metaswitch Networks
Metaswitch Networks Annual Results Show Revenue Growth, Strong Profitability and Market Share Gains
Telecommunications Solutions Vendor Extends Tier One Carrier Relationships, Consolidates Divisions Into One Brand and Positions for Accelerated Growth as the Economy Recovers
ENFIELD, UK--(Marketwire - October 7, 2009) - Metaswitch Networks, a leading provider of
carrier systems and communications software solutions, today reported its
annual results for the 2008/2009 financial year to 31 August. Overall
revenue grew 4.2% from £59.3 million to £61.8 million (US$113.7 million),
with operating margins sustained above 20%. Completing the process
announced 6 months ago, the company also today consolidated both its
Carrier Systems and Network Protocol Divisions under a single new corporate
brand, Metaswitch Networks.
The company's Carrier Systems Division business was primarily driven by
tier one incumbent operators and major regional competitive providers, as
smaller operators' spending slowed amid uncertainty about market conditions
and the timing of federal broadband stimulus funds. With the addition of
recent customer wins, 8 of the top 10 incumbent operators in North America
now rely on Metaswitch for carrier VoIP infrastructure, while independent
analysts reported that the company moved into the lead position in the
Class 5 segment of the global carrier VoIP market.
The company's Network Protocols Division (NPD), previously known as Data
Connection Limited (DCL) but now incorporated under the company's main
Metaswitch brand, also saw impressive results. With a balanced mix of
business across its MPLS, Routing, VoIP and Session Border Controller
product lines, the NPD maintained its leadership position as the protocol
development partner of choice with communications equipment vendors
worldwide. With all of the top 10 communications equipment vendors
worldwide now using Metaswitch Network Protocols Division software to power
their networking products, the company expects the division to continue to
contribute strongly to its overall growth going forward.
"We are extremely pleased with these results, especially in the light of
market conditions which have seen carrier VoIP spending down by more than
30% according to industry analysts," said John Lazar, Metaswitch CEO.
"Continued profitability sustains our substantial investment in R&D across
both Carrier Systems and Network Protocols Divisions. This has enabled us
to carefully grow headcount over the year, and widen the gap between our
products and services and those of our competitors who have been forced to
make deep cuts."
"Bringing the company's two divisions together under a single corporate
brand is a logical move for Metaswitch," said Joe McGarvey, Principal
Analyst, IP Services Infrastructure at industry research firm Current
Analysis. "As these positive results show, it is the combination of the
carrier systems and network protocols businesses that makes for a
successful, resilient company, and demonstrates technology leadership on
multiple levels within the industry. By presenting a single corporate image
to the market, Metaswitch stands to gain from increased awareness among
vendors and carriers alike."
About Metaswitch Networks
Metaswitch Networks is a leading provider of carrier systems and software
solutions that are powering the migration of communications networks to
open, packet-based architectures. Hundreds of network operators worldwide
depend on its Carrier Systems Division for reliable, scalable session
control, media gateway and application/feature server solutions to enable
compelling revenue-generating services. Its Network Protocols Division
develops high performance, portable software components that are integrated
into the products of the world's leading communications equipment
manufacturers. For more information, please visit www.metaswitch.com.
Copyright © 2009 Metaswitch Networks. "Metaswitch" is a registered
trademark. Brands and products referenced herein are the trademarks or
registered trademarks of their respective holders.
Contact Information: Contact:
VP Corporate Marketing
+1 (510) 748 8230
+44 (0) 20 8366 1177
Richard M. Williams
Connect2 Communications for Metaswitch
+1 (919) 554 3532