Sycamore Networks reports 4Q profit
CHELMSFORD, -- Sycamore Networks Inc. reported a small profit for its fiscal fourth quarter today, shifting from a loss a year ago, with a 29 percent jump in revenue.
The results sent Sycamore shares soaring $5, or 22 percent, to $27.22. The stock has traded between $16.18 million and $32.60 over the past year.
The communications equipment provider earned about $520,000, or 2 cents per share, in the three months that ended July 31. That compares with a loss of $34.9 million, or $1.23 per share, in the same quarter a year ago.
Stripping out unusual items, Sycamore said it would have earned $1.3 million, or 5 cents per share, compared with a net loss of $6.5 million, or 23 cents per share, a year ago. Revenue climbed to $22.2 million from $17.2 million.
For the full year, the company booked a net loss of $14.8 million, or 52 cents per share, down from a loss of $53.6 million, or $1.89, the year before. Revenue edged up to $68.6 million from $67.4 million.