Sycamore Networks Beats Estimates by a Penny, Revenue Rises Sharply
TSC Staff
02/13/01 - 04:24 PM EST
Sycamore Networks (SCMR Quote) reported second-quarter earnings that exceeded analysts' expectations by a penny, as revenue blew away the year-ago top line.
The optical networking company, which is based in Chelmsford, Mass., reported income, excluding the amortization of deferred stock compensation and payroll tax on stock option exercises, of $18.1 million, or 6 cents a share, for the quarter. According to
First Call/Thomson Financial, analysts expected earnings of 5 cents.
Sycamore lost $1.7 million, or 1 cent a share, for the same period last year.
Revenue for the second quarter rose to $149.2 million from $29 million in the same period last year, and increased 24% from $120.4 million in the latest first quarter.
