07:13 AM EDT, 05/15/2024 (MT Newswires) -- Vecima Networks ( VNWTF ) on Wednesday reported higher third quarter net income and revenue.

The company reported net income rose to $5.8 million, or $0.24 per share, from $4.5 million, or $0.18 per share, last year. On an adjusted basis, profit nearly doubled to $0.31 per share, from $0.18.

Quarterly sales reached a record $80 million, from $78.3 million, in the prior year quarter.

"As we move into the fourth quarter, we expect to continue building on the strong run rate established in Q3, while setting the stage for continued momentum in fiscal 2025," said President and Chief Executive Sumit Kumar.