Service providers boost Foundry's earnings

Ethernet equipment vendor Foundry Networks posted a strong fourth quarter marked by an 84% increase in profit to $28.9 million and a 28% increase in revenue to $168.7 million. The growth was largely fueled by increasing sales to service providers, a market segment the company said now accounts for 26% of its revenue.

Foundry competes with Cisco Systems, which also is relying on service provider dollars for an ever-larger portion of its growth, and Juniper Networks, which recently posted solid fourth-quarter growth. Will recent switch announcements from Cisco and Juniper have any effect on Foundry's fortunes going forward?

For more:
- check out this Associated Press story at CNN Money

Related articles:
- Juniper just reported it own fourth-quarter profit surge 

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