Wednesday, January 23, 2013

Symmetricom Sales Drop 15% on Lower Wireline Spending


Citing lower U.S. government spending and lower communications service provider spending on wireline-related equipment, Symmetricom reported revenue of $49.2 million for its second quarter of fiscal 2013, down $9.1 million, or 15.6%, compared to the $58.3 million reported for the second quarter of fiscal 2012.  Symmetricom reported a net loss of $1.8 million, or $0.04 per share, for the second quarter of fiscal 2013, compared to net income of $2.4 million, or $0.06 per share, in the second quarter of fiscal 2012.

Symmetricom also announced 20 job cuts as a means of controlling its costs.  The company will also reduce the size of its facility in Santa Rosa, California.

www.symmetricom.com

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