Thursday, May 5, 2016

MRV Posts Q1 Sales of $19 Million

MRV Communications reported quarterly revenue of $18.9 million, compared to $22.2 million, reflecting a lower contribution from legacy infrastructure management products, partially offset by growth of packet and optical products. Gross margin remained at 51.9%, compared to 52.0%, despite lower revenues of legacy products. There was a GAAP net loss from continuing operations of $3.9 million, or $0.56 per share, compared to a GAAP net loss from continuing operations of $1.3 million, or $0.18 per share.


“We entered 2016 as a better capitalized, more efficient and more focused company that is well-positioned for growth at high margins. While our legacy infrastructure management products have experienced a cyclical slowdown that impacted our results over the past few quarters, we are thrilled with the customer and market reaction to our new packet and optical product families,” stated MRV President and CEO Mark Bonney.

http://www.mrv-corporate.com/

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