Sycamore Beats on Light Sales

The optical phone system supplier posts mixed fiscal first-quarter numbers.
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Sycamore

(SCMR)

posted mixed results for its fiscal first quarter.

The networking equipment maker reported adjusted earnings of $10.4 million, or 4 cents a share, for the quarter ended Oct. 27. Those numbers compare with a pro forma profit of $6 million, or 2 cents a share, in the year-ago quarter.

Analysts expected a 3-cent-a-share profit, according to Yahoo! Finance.

Sycamore sales were $38 million in the quarter, up from $34.8 million a year ago, but below the $41.3 million that analysts had been looking for.

"We are pleased with the results for the first quarter, which included strong gross margin performance, improvements in our operating margins, and sequential growth in our multiservice core switching business," CEO Dan Smith said in a press release Wednesday.

Sycamore shares rose 13 cents to $4.05 in premarket trading Wednesday.