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February 23, 2009

Sycamore posts Q2 net loss

Revenue decreased to $11.7m compared to $41.5m for the second quarter of fiscal 2008

By CBR Staff Writer

Sycamore Networks, a developer of bandwidth management systems, has posted a GAAP net loss of $10.1m, or $0.04 per share for the second quarter of fiscal 2009 ended January 24, 2009, compared with a GAAP net income of $9.7m, or $0.03 per fully diluted share, for the second quarter of fiscal 2008.

Revenue for the second quarter of fiscal 2009 was $11.7m, compared with $41.5m for the second quarter of fiscal 2008.

Net loss for the first six months of fiscal 2009, on a GAAP basis, was $15.9m, or $0.06 per share, compared with a net income of $16.7m, or $0.06 per fully diluted share, for the first six months of fiscal 2008. Revenue for the first six months of the fiscal 2009 decreased to $27.13m from $79.44m in the same period of fiscal 2008.

Daniel Smith, president and CEO of Sycamore Networks, said: Our second quarter results reflect a continuation of challenging market conditions, and the resulting impact of reduced capital spending in both our domestic and international customer base. We remain focused on managing expenses in all areas of the company while meeting critical customer needs.

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