Sunday, August 7, 2011

Symmetricom Posts Revenue of $60.7 million, up 18.5% Sequentially

Symmetricom reported quarterly revenue of $60.7 million, up $9.5 million, or 18.5% sequentially driven by increases in customer orders and improvements in the company's manufacturing supply. Symmetricom reported a loss from continuing operations of $1.4 million, or $0.03 per share, for the quarter, compared to income from continuing operations of $3.0 million, or $0.07 per share, in the preceding quarter.

For its full fiscal year ended July 3, 2011, the company posted net revenue of $208.1 million, compared to $221.3 million for fiscal 2010.

"During fiscal 2011 we made considerable progress capitalizing on the migration to next-generation networks and expanding into new markets," said Dave Côté, president and chief executive officer of Symmetricom. "Our government business generated record revenue and bookings, and our newest communications timing products for next generation networks gained significant traction. Full year revenue from our PackeTime products grew more than 75 percent over the prior year and our PackeTime equipment is now deployed in more than 80 live Ethernet backhaul implementations globally."