books revenue and sees its shares pop 18% in aftermarket trading.
The highflying optical-networking start-up recorded $22.9 million in revenue for the third quarter, marking the first recorded income in its short history. But all $22.9 million came from one customer --
, which is also an investor in Corvis.
The company's pro forma net loss was $23.9 million, or 7 cents a share. This beat Wall Street expectations by 2 cents.
Corvis shares closed at $59.63 before leaping to $70 during after-hours trading Thursday.
Corvis makes optical switching and transport equipment for fiber-optic networks. The company's eye-popping debut was among the year's most dramatic
IPOs. Shares hit a high of $114 in August but have been on a steady decline since then as investors fled from some of networking's lesser-known names.
The company still sports a $20 billion
market capitalization despite its fall from grace.