September 07, 2011 at 09:58 AM EDT
Sycamore Rises On FYQ4 Beat, Smaller-Than-Expected Net Loss
Shares of networking equipment vendor Sycamore Networks (SCMR) are up 64 cents, or almost 4%, at $17.45 after the company this morning slightly beat revenue estimates for its fiscal Q4, and reported a smaller-than-expected net loss per share. Revenue in the three months ended in July fell 41% to $13 million, yielding a net loss [...]

Shares of networking equipment vendor Sycamore Networks (SCMR) are up 64 cents, or almost 4%, at $17.45 after the company this morning slightly beat revenue estimates for its fiscal Q4, and reported a smaller-than-expected net loss per share.

Revenue in the three months ended in July fell 41% to $13 million, yielding a net loss per share, excluding some costs, of 9 cents.

Analysts had been modeling $12 million and an 11-cent loss.

During a conference call following the report, management said that most of the revenue came from existing customers.

The market for the company’s main product, in the area of bandwidth management, continues to be in “secular decline,” the company said, and so Sycamore plans to continue to invest in its new thing, called “IQ Stream,” for mobile broadband operators. The company said trials of that equipment are encouraging.

The company ended the quarter with $61 million in cash and equivalents, $336 million in short-term investments, and $45 million in long-term investments.

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