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

Sycamore Networks, Inc. (NASDAQ: SCMR), today reported its results for the fourth quarter and fiscal year ended July 31, 2012. Revenue for the fourth quarter of fiscal 2012 was $16.8 million, compared with $13.0 million for the fourth quarter of fiscal 2011. Revenue for fiscal 2012 was $57.3 million, compared with $48.7 million in fiscal 2011.

Net loss for the fourth quarter of fiscal 2012, on a generally accepted accounting principles (“GAAP”) basis, was $2.5 million, or $0.09 per share, compared with a GAAP net loss of $3.6 million, or $0.13 per share for the fourth quarter of fiscal 2011. Net loss for fiscal 2012, on a GAAP basis, was $12.9 million or $0.45 per share, compared with a GAAP net loss of $17.8 million or $0.62 per share for fiscal 2011. Results for the fourth quarter and fiscal year 2012 include a pre-tax asset impairment charge of $0.8 million.

Non-GAAP net loss for the fourth quarter of fiscal 2012 was $0.9 million, or $0.03 per share, compared with a non-GAAP net loss of $2.5 million, or $0.09 per share for the fourth quarter of fiscal 2011. Non-GAAP net loss for fiscal 2012 was $8.7 million, or $0.30 per share, compared with non-GAAP net loss of $14.7 million, or $0.51 per share for 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.

In conjunction with the release of its fourth quarter and fiscal year full financial results, the Company filed its Annual Report on Form 10-K for its fiscal year ended July 31, 2012. Accordingly, the Company will not hold a quarterly earnings call this quarter and we refer you to our filing for additional company information. The Company intends to hold its next quarterly earnings call following the release of its first quarter financial results.

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