Sycamore Networks, Inc. reported a net loss of $3.7 million, or $0.13 per share, in the company’s third fiscal quarter of 2010. The company lost $2.7 million, or $0.10 per share, in the same quarter of fiscal 2009.
Sycamore Networks, Inc. also saw a decline in sales in the third fiscal quarter. Sales were reported at $14.6 million, compared to $23 million in the third fiscal quarter of 2009.
The management of Sycamore Networks, Inc. said that the higher loss was caused by order delays pushed out by its customers until the fourth fiscal quarter.
“While some orders being delayed into Q4 caused revenues to be somewhat lower than we had hoped, we were pleased with improvements in our third quarter gross margins as well as continued progress in lowering our operating expenses,” said Daniel E. Smith, the CEO of Sycamore Networks, Inc.
Sycamore Networks, Inc reported cash and equivalents and short-term investments of $450 million at 4/24/2010. The company has no long or short-term debt.
Sycamore Networks, Inc. sells networking equipment for use in fixed and mobile data and telecommunications networks. Products include optical switches, cross connects, access platform devices and software.
For more information on the company, go to www.sycamorenet.com
Let us hear your thoughts below: