SOURCE: Metaswitch Networks

Metaswitch Networks

September 22, 2010 10:00 ET

Metaswitch Networks Reports Accelerating Revenue, Profitability and Global Growth

Momentum Reflected in Expanding Base of International Customers and Increasing Investment in Innovation

ORLANDO, FL--(Marketwire - September 22, 2010) - Metaswitch Forum 2010 -- Metaswitch Networks today reported its unaudited annual results for the 2009/2010 financial year to Aug. 31. Overall revenue grew 33 percent from £62.0 million to £82.4 million (or 18 percent growth in U.S. dollar terms, from $113.7 million to $134.5 million), with pro-forma EBITDA margins sustained at 20 percent.

The year was marked by significant customer growth in both the North American market and several key international markets, as well as by the successful acquisition and integration of AppTrigger, leading to the addition of the Metaswitch Service Broker product line.

The company demonstrated strong growth within each carrier segment with the fastest-growing areas being tier-one incumbents, major cable operators, and international markets. Specific highlights of note include:

  • Corporate Highlights:
    • The appointment of Kevin DeNuccio as CEO of Metaswitch Networks.
    • 2010 Queen's Award for Enterprise for continuous innovation and development, as well as commercial success of the MetaSphere application server.
    • Full integration of the company's first acquisition into the Metaswitch organization.
  • Customer Highlights:
    • More than 65 new carrier customers.
    • Successful expansion into Latin America as evidenced by customer wins with Telecom Argentina and Cooperativa Mariano Moreno.
    • Firm establishment of the company's Voice over Cable solutions with deployments by large MSOs including RCN and Knology.
    • Continued strength in regional markets including deployments with TDS Telecom, SureWest Communications, and Cincinnati Bell.
  • Technology Highlights:
    • Widespread participation in the Metaswitch Innovators Community with over 1,250 members now actively involved.
    • Delivery of the industry's first portable protocol solution for signaling and routing in G.709 Optical Transport Networks (OTN).
    • Increased traction in the mobile service delivery and application market with partnerships and deployments with DSM Telecom, Varaha Systems, Starhome and Celtro.

"Metaswitch has enjoyed another year of significant growth in all areas while increasing the depth and breadth of our customer relationships and continuing our commitment to engineering excellence," said Kevin DeNuccio, Metaswitch CEO. "Over the next 12 to 18 months, we'll continue our focus on expanding our footprint into new international markets and bringing innovative new products to market as the trusted architects of next-generation voice networks."

"Our sustained success throughout a period of significant organizational transition, with a new CEO and the integration of our first acquisition, is a reflection primarily on the exceptional quality and commitment of our people," said John Lazar, Metaswitch Chairman. "I speak not just for the board, but the entire company, when I say that we could not be more excited about the direction the company is headed under Kevin's leadership."

About Metaswitch Networks
Metaswitch Networks is a leading provider of the technologies and solutions that are powering the migration of communications networks to open, next-generation architectures. Hundreds of network operators worldwide depend on its reliable, scalable carrier systems solutions, while its high performance, fault-tolerant software technologies are licensed by all the world's leading communications equipment manufacturers. For more information, visit www.metaswitch.com.

Copyright © 2010 Metaswitch Networks. "Metaswitch" is a registered trademark. Brands and products referenced herein are the trademarks or registered trademarks of their respective holders.

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