Redback racks up wins

I'll be the first one to admit that I thought Redback Networks was a goner. But thanks to U.S. bankruptcy laws, the company could be on the comeback trail.

Redback filed for bankruptcy protection in November 2003 and emerged in January 2004 having wiped out about $467 million in debt.

Now the Silicon Valley broadband networking gear maker has been announcing contracts left and right. On Wednesday, it announced a deal with Bosnia Herzegovina Telecom to build out its next generation broadband network. Earlier this week it announced Turk Telekom in Turkey would be using its SmartEdge gear to build out its broadband network. Last week, it announced a contract with Taiwan service provider, Chunghwa Telecom. And last month it announced a huge win with Korea Telecom, one of the largest DSL providers in the world.

The company's financials are still a little iffy. It reported revenue growth of 45 percent for the second quarter of 2004, but it's still losing money, albeit not as much as the previous quarter.

So does Redback have the right stuff to become a comeback kid? Hard to say, but it's nice to see it winning deals again.