Sunday, September 13, 2009

Sycamore Posts Revenue of $17.2 Million

Sycamore Networks reported revenue of $17.2 million for its fourth fiscal quarter ending 31-July-09, compared with $15.1 million for the fourth quarter of fiscal 2008. Revenue for fiscal 2009 was $67.4 million compared with $115.5 million for fiscal 2008. Net loss (GAAP) was $34.9 million, or $0.12 per share, compared with a GAAP net loss of $14.1 million, or $0.05 per share for the fourth quarter of fiscal 2008. The impairment charge included in the GAAP net loss for the fourth quarter and fiscal 2009 periods is $24.2 million, of which $23.1 million relates to the total book value of goodwill and other intangible assets and $1.1 million to certain fixed assets.

"Our Q4 and full year results reflect the impact of reduced capital spending by service providers, occurring within the backdrop of a challenging business environment," said Daniel E. Smith, president and chief executive officer.

See also