Updated from 7:25 a.m. EST

Sycamore Networks


reported a slightly narrower-than-expected loss in its first fiscal quarter on an 82% drop in revenue.

The Chelmsford, Mass., optical equipment maker said that before various items, it lost $39.2 million, or 15 cents a share, in the latest quarter compared with earnings of $15.1 million, or 5 cents a share, a year ago and compared with the analyst loss consensus of 16 cents a share for the most recent quarter.

Sycamore said first-quarter revenue was $21.2 million, down from $120.4 million last year.

After about $202.5 million in restructuring charges, the company lost $1 a share in its latest first quarter, compared with an actual loss of 11 cents a share in the year-ago quarter.

In Wednesday morning trading, Sycamore shares were up 38 cents, or 7.25%, to $5.62.