Enablence's raised revenues reflect Pannaway buy

OTTAWA – Broadband optical equipment maker Enablence Technologies Inc. posts third quarter Enablence-cropped.JPGrevenue of $14.8 million, up 68% or $6.0 million from the $8.8 million generated during the previous quarter and a $14.5 million increase from $261,000 for the same period in last year’s fiscal Q3. The revenue growth resulted mainly from the firm’s Nov. 19 acquisition of New Hampshire-based Pannaway Technologies Inc., whose financial results were folded into Enablence’s numbers. The company took a net loss of $49.5 million ($0.24 per share), including non-cash write-downs of $47.7 million. Net loss for the third quarter of fiscal year 2008 was $2.6 million ($0.02 per share), of which $1.1 million was non-cash charges. Click here for more information.

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