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Sycamore Networks, Inc. Reports Third Quarter Fiscal Year 2012 Financial Results

Sycamore Networks, Inc. (NASDAQ: SCMR), today reported its results for the third quarter ended April 28, 2012. Revenue for the third quarter of fiscal 2012 was $11.9 million, compared with $11.9 million for the third quarter of fiscal 2011.

Net loss for the third quarter of fiscal 2012, on a generally accepted accounting principles (“GAAP”) basis, was $5.1 million, or $0.18 per share, compared with a GAAP net loss of $4.1 million, or $0.14 per share for the third quarter of fiscal 2011. Net loss for the first nine months of fiscal 2012, on a GAAP basis, was $10.4 million or $0.36 per share, compared with a GAAP net loss of $14.2 million or $0.50 per share for the first nine months of fiscal 2011.

Non-GAAP net loss for the third quarter of fiscal 2012 was $4.1 million, or $0.14 per share, compared with a non-GAAP net loss of $3.4 million, or $0.12 per share for the third quarter of fiscal 2011. Non-GAAP net loss for the first nine months of fiscal 2012 was $7.8 million, or $0.27 per share, compared with non-GAAP net loss of $12.2 million, or $0.43 per share for the first nine months of fiscal 2011. The reconciliation between net loss on a GAAP basis and net loss on a non-GAAP basis is provided in a table immediately following the Unaudited Condensed Consolidated Statements of Operations included with this release.

“Our intelligent bandwidth management products continue to provide a positive contribution to our overall business, as we maintain strong relationships with our customers in delivering excellence in customer support,” said Daniel E. Smith, president and chief executive officer. “We continue to work closely with our trial prospects in validating the value proposition of our IQstream® mobile broadband optimization solution, which is designed to deliver bandwidth savings in the Radio Access Network and improve the end-user experience.”

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