July 28, 2008

Enablence Posts Sales of $3.2 Million for FY 2008

Enablence Technologies, a supplier of fiber-to-the-home equipment for triple-play residential and business services and optical components, has reported sales of $3.2 million for the fiscal year 2008 ended April 30, 2008, compared to the $0.1 million generated during fiscal year 2007.

Enablence's total assets increased to $107.8 million at April 30, 2008 from $26.9 million at April 30, 2007. The company's cash position was $47.2 million on April 30, 2008 as contrasted with $16.3 million on April 30, 2007.

The net loss for fiscal 2008 was $11.3 million, of which $5.2 million consisted of non-cash charges. These charges were largely due to added depreciation as a result of an increased asset base and charges related to the previously granted options, generating a loss per share of $0.08. The loss for the previous fiscal year ending April 30, 2007 was $7.5 million of which $3.3 million consisted of non-cash charges.

Arvind Chhatbar, CEO of Enablence Technologies, said: "Enablence is pleased to report a successful growth year with significant progress in and addition to its product lines. Industry partners continue to recognize the significance of planar lightwave circuit technology solutions. PLC-based solutions are becoming pervasive throughout all optical networks, and are beginning to displace bulk optics across these networks."