Sycamore shares rise as loss stays flat
CHELMSFORD - Sycamore Networks Inc. said yesterday that its fiscal third-quarter loss remained flat as revenue rose but interest and other income declined year over year.
The results were better than analysts expected, and Sycamore shares rose 42 cents, or 13.21 percent, to $3.60 yesterday.
For the period ended April 25, Sycamore's loss was $2.7 million, or a penny per share.
Excluding items, the company broke even on a per-share basis. Analysts polled by Thomson Reuters, who typically exclude items from their estimates, expected a loss of 3 cents per share. Revenue rose nearly 10 percent to $23 million, much higher than the $11 million expected analysts were looking for.
The company's interest and other income fell 56 percent to $3.8 million.