Redback Networks, Inc. (RBAK)

[PowerPole]

News for 'RBAK'-Market Gainer Issues Coverage Redback Networks Inc.

Apr 03, 2006 (M2 PRESSWIRE via COMTEX) -- Market Gainer is quickly emerging as
the one stop shop for international small-cap investors looking to stay a step
ahead of the markets. Redback Networks Inc. (NASDAQ:RBAK), has gotten the
attention of our research team this morning. Our goal is to create a community
of international investors who consistently and effectively capitalize on the
enormous gains that the small-cap Canadian and American exchanges offer.

Redback Networks Inc. (NASDAQ:RBAK), a leading provider of next-generation
broadband networking systems, announced that it has filed with the Securities
and Exchange Commission (SEC) its Annual Report on Form 10-K for the fiscal year
ended December 31, 2005 and has successfully concluded its assessment of the
Company's internal control over financial reporting as of December 31, 2005 in
accordance with Section 404 of the Sarbanes-Oxley Act of 2002.

As previously stated in the Form 12b-25 filed by Redback with the SEC on March
16, 2006, the Company has recorded a correction to the results of operations for
the quarter ended December 31, 2005 previously disclosed in its press release
dated January 26, 2006. The correction reduces stock compensation expense on a
GAAP basis by a total of $0.4 million for the fourth quarter of 2005. As a
result, GAAP net income for the fourth quarter of 2005 increased to
approximately $0.7 million from $0.3 million and GAAP net loss for the year
ended December 31, 2005 was reduced to approximately $22.0 million from
approximately $22.4 million. The correction had no impact on the GAAP net income
per share for the fourth quarter of 2005, but reduced GAAP net loss per share
for the year ended December 31, 2005 to $0.40 from $0.41. These results are
reflected in the Company's Form 10-K on file with the SEC. Please refer to the
Form 10-K for further detailed information.

Following this announcement Redback Networks Inc. is trading up over 6.5%!!! on
much higher than average volume. M.G will continue doing research on Redback
Networks Inc. (NASDAQ:RBAK), both short term and long term, and invite any
shareholders to our site, where you can partake in communicating with other
investors on the company.

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As of Thursday, 03-30-2006 23:59, the latest Comtex SmarTrend(SM) Alert,
an automated pattern recognition system, indicated an UPTREND on
03-21-2006 for RBAK @ $19.50.

(C) 2006 Comtex News Network, Inc. All rights reserved.