Amedia expects revenue by end of year

Amedia Networks announced it expects to book its first revenue by the end of 2005.

According to a statement to shareholders from Frank Galuppo, president and CEO of the access vendor, the 15-month-old company for the past quarter has been expanding its distribution channels and completed a private placement of shares with institutional investors. Additionally, Amedia last month signed its first customer, Tai Long Communications in China, and said it is supporting VDSL implementations on its platform, which originally was built as a fiber-to-the-premises play.

“With the recent announcement of our major contract win with Tai Long Communication in China, we have begun our transition to the revenue generation phase of our business strategy,” Galuppo said in his statement. “ We have chosen to do this in what is arguably one of the largest and most exciting high-growth markets in this world.”

By the end of the year, the company also expects to have three reference customers.