Enterasys Trims Loss, Move HQ
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Telecom gear maker Enterasys Networks trimmed its quarterly loss, but warned revenues for the current quarter could drop up to 10 percent because of the "challenging economy" and "geo/political environment," among other factors.
Under CEO William O'Brien, the company has reduced costs by cutting employees and selling its Aprisma subsidiary. It has also worked to limit damage from an accounting scandal last year.
Looking ahead, O'Brien is optimistic about the company's market.
"Network solutions offer significant productivity opportunities for the enterprise and working with our customers and partners we are optimistic that we can continue to help our customers realize these benefits during these challenging times," O'Brien said.
Enterasys, which spun out of Cabletron Systems, also said it is moving its headquarters from Rochester, N.H., to Andover, Mass., to be closer to skilled workers and Logan Airport.
Layoffs at Lucent and Nortel plants in Massachusetts have left many experienced workers looking for jobs.
"We have spent the past year executing our goals to fundamentally improve our business and our competitive position," said William O'Brien, Enterays CEO. "It is fitting that we begin a new era for Enterasys at the hub of East Coast technology."
The company already had a customer demonstration center in Andover. The Rochester facility will stay open as the company's primary engineering hub.
The company is the second to leave New Hampshire this year. In late January, Bowstreet pulled out of Portsmouth, N.H., for Tewksbury, Mass., taking about 40 jobs with it.