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   Technology StocksBigBand Networks, Inc. (BBND)


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From: JakeStraw6/20/2007 12:12:31 PM
   of 31
 
BigBand Networks Unveils New Video Processing Engine for Flagship Video Networking Platform
biz.yahoo.com
Wednesday June 20, 11:42 am ET

BMR(R) Enhancements Are Designed to Enable New Levels of Performance and Picture Quality and Enhance Switched Digital Video (SDV) and Addressable Advertising Applications

ORLANDO, Fla.--(BUSINESS WIRE)--BigBand Networks, Inc. (NASDAQ:BBND) today unveiled a new video processing engine for the Broadband Multimedia-Service Router (BMR®), its flagship video networking platform. The new video processing engine will form the core of a new family of cards--the XE family--for the BMR, designed to significantly enhance advertising insertion and RateShaping® performance. The new engine can also enhance video quality and increase density for BigBand's switched digital video and addressable advertising solutions. BigBand will demonstrate some of the BMR's new functionality this week at the SCTE Cable-Tec EXPO in Orlando.

The new video processing engine is designed to contribute a range of feature and application enhancements to the BMR, including:

* RateShaping®. BMR's RateShaping enhancements are designed to enable a significant improvement in video quality and can allow more programs--up to 15 standard-definition or four high-definition programs--to fit into a single QAM.
* Increased Splicing Density. The new enhancements are designed to double the BMR's splicing density to enable simultaneous splicing of 200 standard-definition streams or 50 high-definition streams in a single chassis. The enhancements also simplify operation by consolidating splicing and RateShaping functionality on the same processing port.
* QualityShaping(TM). This new feature--an evolution of traditional "clamping"--is designed to allow video streams to be processed individually, based on two key considerations: video quality and bit-rate requirements. QualityShaping is designed to ensure optimal picture quality for each program or stream delivered.

The new functionality slated for inclusion in the BMR includes enhancements for a range of applications, including:

* Enhanced Switched Digital Video. With the new enhancements, the BMR can re-use bandwidth reclaimed by its QualityShaping feature to improve video quality for switched digital video streams.
* Addressable Advertising. The BMR's increased processing speed and density are designed to make it an excellent option for delivery of advanced, bandwidth-intensive applications, such as addressable advertising.
* New Acquisition Functions. The BMR will also feature a faster staging processor to support a suite of advanced acquisition applications such as the collection of program stream metadata for reporting and measurement, IP encapsulation and conversion of multi-program transport streams (MPTS) and single-program transport streams (SPTS).

"The BigBand BMR is widely recognized as a benchmark video networking platform for its ability to support a wide variety of rich media applications, including commercial deployments of switched digital video," said Ran Oz, chief technology officer of BigBand Networks. "The BMR's new functionality is designed to allow our customers to continue to leverage their investment in the platform to deliver next-generation applications such as addressable advertising with the same quality and reliability their customers have come to expect from existing applications."

The BMR is one of the most widely-deployed video networking platforms in the world, and supports service delivery to more than 50 million subscribers. The BMR's programmable, modular architecture allows it to be upgraded and reconfigured easily, allowing service providers to add support for new functionality only as needed to generate increased return on capital expenditure. The BMR switches and processes content in MPEG, IP or Ethernet content and supports a wide assortment of applications including switched digital video, digital ad insertion, HDTV, video on demand, network-based DVR, digital television management, IP video transport and digital simulcast.

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From: MLD387/10/2007 4:30:31 PM
   of 31
 
BBND: Merrill Boosts Rating; Finds Customer Worries Overblown
July 10, 2007, Posted by Eric Savitz
blogs.barrons.com
BigBand Networks (BBND) is higher today after Merrill Lynch’s Tal Liani raised his rating on the stock from Buy to Neutral. He says the stock as of last night offered an attractive entry point after a 36% slide from its peak on what he says were “overblown concerns regarding key customers.”

The company provides “switched video” hardware to Verizon (VZ), Cablevision (CVC), Time Warner Cable (TWC), among others. Liani says he believes the company also has a strong position at Comcast (CMCSA), “where we expect it to share the opportunity with Cisco (CSCO).”

Liani says the company has opportunities beyond the switched video market. He says BigBand should benefit from three growth drivers: an increasing number of users receiving tailor made services; rising demand for more video channels, especially in high def; and investment in new applications by carriers.

Liani says he expects revenue to grow 30% a year over the next two years, with EPS growth of 127% this year and 63% next year. He has a $17 price target on the stock, based on 26x estimates 2008 earnings power of 65 cents a share.

BigBand today is up $1.34, or 10%, to $14.46.

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From: bob zagorin7/24/2007 3:07:20 AM
   of 31
 
Why I'm Sticking With BigBand Networks (seeking alpha 7/5/07)

Trade Radar Operator submits: BigBand Networks, Inc. (BBND) develops, markets and sells network-based platforms that enable cable operators and telephone companies to offer video, voice and data services across coaxial, fiber and copper networks.The stock first showed up as a pick in the TradeRadar model portfolio back in March 2007 just after the company went public in a well-publicized IPO. There was a good deal of buzz about the company at that time and it was even discussed by Jim Cramer on TV.

Still, after an initial run up, BigBand's stock price has lately been rapidly declining and I have been wondering why. There has been no particular bad news since its 8-K earnings report was filed back on May 3 and its 10-Q quarterly report on May 9. Since that time the stock has been in a free fall despite positive news of new contracts, good product reviews, etc.

Looking at the chart, it now looks like a classic head-and-shoulders top was formed and confirmed in early June when the price finally fell below about $17. That level has now become a resistance point. In any case, based on the head-and-shoulders we could have expected BBND to fall to about $13 and that's exactly what it has done. Will it stabilize at that level? We'll have to wait and see but at least it seems to be trying.

So what caused the stock to fall so precipitously? Certainly, many IPOs tend to behave like this but BBND seemed to be a more mature company, coming to market as it did earlier this year with real revenues and earnings, a well respected product line and some buzz about its prospects and industry niche. Looking for other reasons among the company fundamentals, I dug into the 10-Q and 8-K.

Here is what I found:

In general, on a non-GAAP basis the company was profitable but on a strict GAAP basis, the company incurred a loss.

Excluding charges, net of tax, non-GAAP net income for the first quarter of 2007 was $5.8 million, or $0.09 per diluted share versus a loss of $0.06 the year before.

On the other hand, GAAP net loss in the first quarter of 2007 of $0.05 includes an aggregate of $7.5 million in non-cash charges (including $5.0 million in preferred stock warrant expense, $2.4 million in stock-based compensation expense and $0.1 million in amortization of intangibles), while such non-cash charges represented an aggregate of only $0.5 million in the first quarter of 2006. Clearly, expenses are jumping and, in general, BBND does report that it is continuing to incur increased research and development, sales and marketing, in addition to general, and administrative expenses.

This reported loss in its first quarter as a public company comprises the primary bad news that caused the stock to tank. Analysts were expecting, rather than a loss, a per-share profit of $0.03. Compounding the problem, BBND offered forward guidance that was toward the low end of analyst expectations.

On the positive side, the 8-K and 10-Q showed net revenues of $52.8 million, up 62% over the same quarter in the prior year. Nothing wrong with that! Gross margin of 57.5% is quite high for a hi-tech hardware company and some 6% higher than the previous year's first quarter. The cash flow situation looks good. Net cash provided by operating activities is nearly three times higher than the prior year's quarter. Including investing and financing activities, cash and cash equivalents at end of period are five times higher than the prior year's quarter.

Another weak spot identified in the 10-Q, however, is international sales. The company failed to increase international sales yoy; in fact, international sales dropped a bit.

As always, there are risks that, should they come to fruition, may affect the company's profitability.

One risk identified in the 10-Q is related to concentration of sales in a relatively small number of large customers. The company's top five customers in the United States accounted for 82.9% of net revenues compared to 71.1% in the three months ended March 31, 2006. In the three months ended March 31, 2007, Cablevision (CVC), Cox Communications, Time Warner Cable (TWC) and Verizon (VZ) each represented 10% or more of our net revenues. Loosing just one of these customers would be a serious blow to BBND. On the plus side, these are the North American heavyweights and it is good that BBND has been able to sell into these companies and it validates BigBand's value proposition.

Another risk is related to competitors. BBND competes principally with Cisco Systems (CSCO), Motorola (MOT) and Arris (ARRS). In the video market, they compete broadly with system suppliers including Harmonic, Motorola, Scientific Atlanta (a division of Cisco Systems), SeaChange International (SEAC), Tandberg Television (which recently announced that it will be acquired by Ericsson (ERIC)), Terayon Communication Systems (TERN)(which recently announced that it will be acquired by Motorola) and a number of smaller companies. Competition is stiff, to say the least and many of these companies, being larger than BBND, have greater financial, technical, marketing and other resources they can bring to bear in competing with BBND.

Looking to the future, the company expects second-quarter earnings of $0.02 to $0.06 a share, or $0.06 to $0.11 a share excluding items, on revenue of $52 million to $56 million. Results, in other words, will be flat to slightly above the first quarter but at least the company should swing to profitability. BBND has also forecast 2007 earnings of $0.06 to $0.11 a share, or $0.30 to $0.35 a share excluding items, on revenue of $225 million to $230 million.

So what conclusion can we draw from this data? BBND is a small company with good products but it is competing with industry heavyweights and selling into a small set of large companies, primarily in the United States. Its revenues grew 62% over the prior years' quarter but its expenses grew 52%. The expenses, combined with the non-cash charges described above were enough to tip the company to the unprofitable column. Still, the company shows good cash flow and strong margins and is undeniably operating in a market segment where there is excitement and opportunity. Indeed, revenues derived from the video related portion of its product line have shown growth of 125% over the prior year's quarter.

The company expects to return to profitability in the coming quarter. If BBND can get a handle on expenses and increase international sales, it should be able to increase EPS at a faster rate in coming quarters. And with the stock over 50% off its peak, it seems there should be minimal risk in buying now or continuing to hold. Wall Street seems to agree, with three analysts rating the stock a buy and four rating it a hold.

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From: JakeStraw8/22/2007 8:26:50 AM
   of 31
 
BigBand Networks' Switched Digital Video Solution Deployed by Cox Communications
biz.yahoo.com
Wednesday August 22, 8:00 am ET

BigBand's Switched Digital Video Solution Allows Cox to Expand High-Definition and Other Programming Offerings

REDWOOD CITY, Calif.--(BUSINESS WIRE)--BigBand Networks, Inc. (NASDAQ:BBND), the pioneer and deployment leader in switched digital video (SDV), today announced that Cox Communications has selected BigBand's SDV solution for use in multiple cable systems--including both Motorola and Scientific Atlanta set-top box environments--and has begun to deploy the solution in its Northern Virginia market. Cox, the third-largest U.S. cable operator, plans to use BigBand's solution to make the most of its bandwidth, allowing for the significant expansion of its HDTV lineups in markets across the country.

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From: JakeStraw2/21/2008 8:32:00 AM
   of 31
 
BigBand Networks Reaches Switched Digital Video Milestone in Motorola Set-Top Box Environments
biz.yahoo.com
Thursday February 21, 8:00 am ET

BigBand deploying across Motorola systems that pass more than 1 million households

REDWOOD CITY, Calif.--(BUSINESS WIRE)--BigBand Networks, Inc., (NASDAQ: BBND), the pioneer and deployment leader in switched digital video (SDV), today announced that it has reached a milestone for SDV deployment in Motorola set-top-box environments. The company is in the process of deploying across three Motorola cable systems with two different cable operators that collectively pass more than 1 million households.

“Operators are actively deploying our SDV solution in Motorola systems,” said Biren Sood, BigBand’s vice president and general manager of cable video. “SDV continues to be the most cost-efficient way to expand HDTV in any set-top environment; approximately one fourth the cost of an immediate all-digital migration according to our calculations.”

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From: JakeStraw2/28/2008 8:54:23 AM
   of 31
 
BigBand Networks Increased edge QAM Shipments 91 Percent in 2007
biz.yahoo.com
Thursday February 28, 8:00 am ET

BigBand shipped 140,000 edge QAMs in 2007 and extended its lead in switched digital video deployment

REDWOOD CITY, Calif.--(BUSINESS WIRE)--BigBand Networks, Inc. (NASDAQ:BBND) shipped 140,000 edge QAMs inclusive of all its platforms in 2007, nearly doubling its total from 2006. Based on these numbers, the company believes that it achieved the leading market share position in edge QAM for the second consecutive year.

Highlights of BigBand’s QAM shipments in 2007 included:

* Introduction of the BEQ™6000, BigBand’s universal edge QAM;
* Significant expansion of BigBand’s switched digital video (SDV) deployments, including initiation of its first SDV deployments in Motorola set-top box environments;
* Use of the BEQ6000 to deliver IP voice and data services in some of the world’s first deployments of modular CMTS (M-CMTS);
* Initiation of BigBand’s first deployment to deliver SDV and video-on-demand (VOD) in the same cable system leveraging the BEQ6000

“In 2007, edge QAM technology went ‘universal,’ and took on a more pivotal role in delivering switched video services and IP services, and we expect those trends to continue in 2008,” said John Holobinko, vice president and general manager of BigBand’s cable edge business unit. “Cable operators are installing BigBand edge QAMs in more than 20 deployments of switched digital video to put a framework in place to deliver virtually unlimited HDTV.”

BigBand’s own “universal” edge QAM platform—the BEQ6000—is designed to support the delivery of video-on-demand, high-speed data and voice-over-IP services in addition to SDV. The platform is differentiated by a unique balance of high density, superior RF signal quality, component durability and modularity. The BEQ has been designed to exceed industry performance standards to make it the industry’s most reliable edge QAM, with the lowest total cost of ownership on the market.

“Our shipment milestone is a testament to the fact that we’ve focused on what operators want out of their edge QAM,” continued Holobinko. “Our customers are not interested in spec sheet promises—they want a demonstrated track record of successful deployments in advanced applications, performance, quality, and multi-service support.”

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From: JakeStraw3/26/2008 8:16:42 AM
   of 31
 
BigBand Networks Expanding Digital Television, HDTV for China's Zhongshan Cable
biz.yahoo.com
Wednesday March 26, 8:00 am ET

Operator in Guangdong Province Leverages BigBand's "Headend-in-a-Box" to Expand Digital Video Services

REDWOOD CITY, Calif.--(BUSINESS WIRE)--BigBand Networks, Inc. (NASDAQ:BBND), a leading innovator in video networking, today announced that Zhongshan Cable is deploying its Broadband Multimedia-Service Router (BMR®) to process, manage and deliver digital television services, including HDTV and video-on-demand (VOD). Zhongshan Cable serves approximately 300,000 subscribers in the city of the same name, among the larger urban centers in China’s Guangdong Province.

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From: JakeStraw5/2/2008 8:06:52 AM
   of 31
 
BigBand Networks Reports First Quarter 2008 Results
biz.yahoo.com
Thursday May 1, 4:15 pm ET

Company Executes Well in Its First Quarter as a Pure-Play Digital Video Business; Reports Solid Progress in Switched Digital Video

REDWOOD CITY, Calif.--(BUSINESS WIRE)--BigBand Networks, Inc., (NASDAQ:BBND) today reported financial results for the first quarter ended March 31, 2008.

For the first quarter of 2008, total revenues were $39.9 million as compared to $30.7 million reported in the fourth quarter of 2007 and $52.8 million reported in the first quarter of 2007.

GAAP net loss for the first quarter of 2008 was $1.9 million, or $(0.03) per share. These results compare to a net loss of $13.8 million or $(0.23) per share reported in the fourth quarter of 2007 and a net loss of $1.0 million, or $(0.05) per share, reported in the first quarter of 2007.

On a non-GAAP basis, the Company reported a net income of $1.4 million, or $0.02 per diluted share, in the first quarter of 2008. These numbers exclude $3.2 million in stock-based compensation expense, $143,000 in amortization of intangibles, $335,000 in restructuring expense and income tax expense of $95,000, offset by a $468,000 benefit from the sale of CMTS platform inventory previously reserved for in a prior period. This compares to a non-GAAP net loss of $7.4 million, or $(0.12) per share reported in the fourth quarter of 2007 and non-GAAP net income of $5.8 million, or $0.09 per diluted share, reported in the first quarter of 2007. These previous quarters’ results also reflect adjustments for stock-based compensation expense, amortization of intangibles, restructuring expense, preferred stock warrant expense and related tax expense.

At March 31, 2008, deferred revenue was $63.7 million, down slightly from the prior quarter’s balance of $67.3 million. The Company ended the first quarter with $150.0 million in cash, cash equivalents and marketable securities as compared to $154.5 million as of December 31, 2007.

“We executed well in the quarter, particularly in the area of switched digital video,” commented Amir Bassan-Eskenazi, chairman and CEO of BigBand Networks. “Our significantly improved operating results, in the quarter, benefited from high software content in our product sales as well as higher margin expansion orders,” concluded Bassan-Eskenazi.

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From: JakeStraw8/1/2008 8:26:44 AM
   of 31
 
BigBand Networks Reports Second Quarter 2008 Results
biz.yahoo.com
Thursday July 31, 4:15 pm ET

Company Reports Strong Performance and Solid Fundamentals as a Pure Play Digital Video Business

REDWOOD CITY, CA--(MARKET WIRE)--Jul 31, 2008 -- BigBand Networks, Inc. (BBND - News) today reported financial results for the second quarter ended June 30, 2008.

For the second quarter of 2008, total revenues were $43.0 million as compared to $39.9 million reported in the first quarter of 2008 and $54.5 million reported in the second quarter of 2007, which included $7.1 million from the subsequently retired CMTS platform.

GAAP net income for the second quarter of 2008 was $1.2 million, or $0.02 per diluted share. These results compare to a net loss of $1.9 million, or $(0.03) per share, reported in the first quarter of 2008 and net income of $1.7 million, or $0.02 per diluted share, reported in the second quarter of 2007.

On a non-GAAP basis, the Company reported net income of $4.5 million, or $0.07 per diluted share, in the second quarter of 2008. These numbers exclude $2.4 million in stock-based compensation expense, $1.2 million in restructuring expense and $143,000 in amortization of intangibles, offset by a $287,000 benefit from the sale of CMTS platform inventory previously reserved for in a prior period and $202,000 in income taxes. This compares to non-GAAP net income of $1.4 million, or $0.02 per diluted share, reported in the first quarter of 2008 and non-GAAP net income of $ 4.7 million, or $0.07 per diluted share, reported in the second quarter of 2007. The previous quarters' non-GAAP results also reflect adjustments for stock-based compensation, amortization of intangibles, restructuring and related tax expenses.

At June 30, 2008, deferred revenue was $69.2 million, up from $63.7 million at March 31, 2008 and $67.3 million as of December 31, 2007. The Company ended the second quarter with $158.8 million in cash, cash equivalents and marketable securities, compared to $150.0 million in the prior quarter and $154.5 million at December 31, 2007.

"We are pleased to report another quarter of solid execution, continued progress in leveraging our platform and building additional functionality for new and existing customers," commented Amir Bassan-Eskenazi, president and CEO of BigBand Networks. "The industry is shifting toward more High Definition programming, and operators are retooling and enhancing their networks. This trend continues to drive all areas of our business -- broadcast, Switched Digital Video and Telco TV solutions. We are optimistic about the opportunity ahead and are well positioned to leverage our technology know-how, customer relationships, and footprint."

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From: JakeStraw11/12/2008 7:58:04 AM
   of 31
 
BigBand Networks Renews Relationship With Verizon With Multi-Year Agreement to Support FiOS TV Services
biz.yahoo.com
Wednesday November 12, 5:30 am ET

BigBand Hits Key Milestone by Deploying Over 1,500 Platforms Across Verizon's FiOS Network

REDWOOD CITY, CA--(MARKET WIRE)--Nov 12, 2008 -- BigBand Networks, Inc. (NasdaqGM:BBND), a leading innovator in video networking, today announced a new, multi-year agreement with Verizon (NYSE:VZ) to deliver an advanced video services infrastructure for Verizon's FiOS TV rollout. BigBand, whose platforms channel video signals onto Verizon's all-fiber-optic network, has supported FiOS TV since its launch in September 2005, and continues to collaborate closely with Verizon on new solutions to support delivery of advanced services across its customer base. Verizon recently deployed its 1,500th BigBand Broadband Multimedia-service Router (BMR®) in the FiOS network.

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