Thursday, March 17, 2011

Procera: Cox Generated $2.2M in 2010

Procera Networks announced its results for 2010 (see "Procera Networks Announces Fourth Quarter and 2010 Year End Results" - here - similar to the preliminary results announced in January).

In its 10-K SEC filling, the company states that "We are currently not dependent on any single customer. For the years ended December 31, 2010 and 2009, revenue from one customer (Cox Communications, Inc.) represented 11% and 44% of net revenues, respectively, with no other single customer accounting for more than 10% of net revenues" (here).

This translates into revenues of $2.23M in 2010, vs. $8.86M in 2009, of which ~$500K generated in the 2nd half of 2010 (See "[Update - 10% Customer:Cox] Procera Reduces Revenue Guidance" - here).

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