Foundry Networks(TM) Files Form 10-Q
May 09 2006 - 5:14PM
PR Newswire (US)
SAN JOSE, Calif., May 9 /PRNewswire-FirstCall/ -- Foundry
Networks(TM), Inc. (NASDAQ:FDRY), today filed its Form 10-Q with
the Securities and Exchange Commission. The Company's condensed
consolidated statement of operations for the first quarter ended
March 31, 2006 reported in the 10-Q reflects an increase of
approximately $0.6 million to operating expenses, a decrease of
$0.4 million to net income, and a $0.01 decrease in diluted
earnings per share from the first quarter financial results
previously announced on April 20, 2006. The changes in the
Company's operating expenses and net income result from an
adjustment to certain calculations in connection with the Company's
application of SFAS 123R, Share-Based Payment. Please see the
Company's quarterly report on Form 10-Q filed today with the
Securities and Exchange Commission for complete financial results
for the quarter ended March 31, 2006. About Foundry Networks
Foundry Networks, Inc. is a leading provider of high-performance
enterprise and service provider switching, routing, security and
Web traffic management solutions including Layer 2/3 LAN switches,
Layer 3 Backbone switches, Layer 4-7 application switches, wireless
LAN and access points, access routers and Metro routers. Foundry's
9,700 customers include the world's premier ISPs, Metro service
providers, and enterprises including e-commerce sites,
universities, entertainment, health and wellness, government,
financial, and manufacturing companies. For more information about
Foundry and its products, call 1-888-TURBOLAN or visit
http://www.foundrynetworks.com/. DATASOURCE: Foundry Networks
CONTACT: Tim Heffner, Chief Financial Officer, +1-408-207-1700, or
, or Michael Iburg, Treasurer, +1-408-207-1305, or , both of
Foundry Networks; or Jason Golz, Investor Relations of Financial
Dynamics, +1-415-439-4532, or , for Foundry Networks Web site:
http://www.foundrynetworks.com/
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