Redknee net income doubles in Q2

Staff writer
15 May 2014
00:00

Redknee Solutions said its net income for the second quarter of 2014 doubled to $4.8 million or $0.05 per share.

Revenue was pegged at $72.4 million, more than six times the $11.8 million reported in the same year-ago quarter.

Redknee said the improvement was primarily due to increased revenue related to the BSS acquisition, as well as license expansions, license upgrades, and third-party hardware and software sales.

"In the past 12 months our company has undergone significant growth…while successfully completing the integration of the BSS acquisition," said Lucas Skoczkowski, CEO of Redknee.

“We also see increasing opportunities to leverage our leading software solutions to capitalize on the rise of the Internet of Things in non-telecom verticals such as transportation and smart homes,” added Skoczkowski.

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