Westford, MA--January 23, 1997--Cascade Communications Corp. (Westford, MA) reported results for the fourth quarter and fiscal year ended Dec. 31, 1996.
Revenue for the fourth quarter increased 139 percent, to $110.3 million from $46.2 million recorded for the same period in 1995. Net income for the quarter increased to $23.4 million, or $0.24 per share, compared with net income of $9.1 million, or $0.10 per share, for the same period in 1995.
For the 12 months ended Dec. 31, 1996, revenue increased to $341.0 million from $134.8 million for the year ended Dec. 31, 1995. Net income for fiscal year 1996 was $70.8 million, or $0.72 per share, compared to $25.4 million, or $0.28 per share, in 1995.
Cascade made several strategic announcements during the quarter, including the introduction of IP Navigator, Cascade's carrier-class IP solution for WANs. IP Navigator is a software upgrade that combines the efficiency of WAN switching with the intelligence of IP routing in a single platform. Expected to extend across Cascade's complete product line, including the AX Remote Access products and Sahara Networks' soon-to-be-released broadband access products, IP Navigator will deliver IP transport with end-to-end Quality of Service (QoS) guarantees.
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