Tuesday, May 17, 2005

Occam Ramps Up Revenues with 13 New Customers in Q1

Occam Networks reported quarterly revenue of $6.9 million, setting a new company record for the third consecutive quarter. The company also added 13 new customers during the quarter.

During the first quarter of 2005, Occam signed a strategic alliance with Tellabs, which opened up market opportunities with large North American Local Exchange Carriers for Occam's IP-based loop carrier equipment. As part of the agreement, Tellabs also licensed Occam's Ethernet transport technologies for integration into Tellabs FiberDirect portfolio. Occam gained access to Tellabs' cabinet products, enabling Occam to provide new and existing IOC customers with more deployment options. The company also completed the private placement portion of its Series A-2 Preferred Stock Financing, which resulted in cash proceeds of $10.6 million.

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