Telecom Lead America: Meru Networks, a provider
of virtualized 802.11 enterprise wireless networking has posted revenues of
$19.4 million for the first quarter of 2012, down 4 percent from $20.2
million in the first quarter of 2011.
Total product and service revenues for the first quarter of
2012 stood at $19.4 million, up 4 percent from $18.6 million in the
first quarter of 2011.
The company posted products revenues of $15.8 million for
the first quarter of 2012, up 2 percent from the $15.4
million reported in the first quarter of 2011. Support and service
revenues were recorded at $3.5 million for the Q1 2012, against $3.1 million
for the same quarter of 2011.
Net loss was $14.5 million for the first quarter
of 2012 as compared to net loss of $3.4 million for the same period of
2011.
“While the first quarter is typically our seasonally
weakest quarter, this quarter was especially challenging in light of CEO and
product transitions”, said Bami Bastani, president and chief
executive officer, Meru Networks.
During the quarter, the company’s customer count grew to
over 6,200, adding more than 280 customers worldwide in traditional verticals
of higher education, K-12, and healthcare, as well as new enterprise customers
from the retail, manufacturing, logistics, hospitality, and sports and entertainment
verticals.
Furthermore, during Q112, the company won various new
customers that include a major new customer in Northern
Ireland deploying Meru’s solutions at approximately 1200 locations to
nearly 350,000 users.
The list of new customers include a Japanese electronics
company and a large US hospital that is displacing its existing Cisco wireless
LAN infrastructure with Meru’s wireless LAN solutions throughout the hospital.
Meru Networks launches cloud-based networking solutions for
enterprises
Furthermore, during the quarter the company introduced AP110
Access Point, a new low-cost wireless and wired access solution, Virtualized
Meru System Director WLAN Operating System and Controllers and Cloud-hosted
Application Services.
