Bridgewater more than triples net earnings

Bridgewater Systems registered net earnings of $4.1 million in the second quarter, more than thrice the $1.3 million that it posted in the same period last year.

This strong performance pulled first half net earnings up to $7 million, from a mere $0.6 million the year before.

Revenue in the second quarter hit $16.1 million, 37% higher than the $11.8 million chalked up a year ago.

According to the company, its good second quarter showing was driven mainly by new orders for its WideSpan system, the momentum of the Wimax market, and the continued strength of its core markets.

Bridgewater jacked up its full-year forecast of earnings of $8 million to $10 million and revenues of $58 million to $62 million.