Updated from May 11
surged 6% early Wednesday after the company posted a narrower third-quarter loss.
For its fiscal third quarter ended March 31, the Chelmsford, Mass., maker of communications gear posted a loss of $10.6 million, or 4 cents a share. That's better than the year-ago loss of $11.9 million, or 4 cents a share. Revenue rose to $14.7 million from $10.6 million a year earlier.
The company's so-called non-GAAP loss, which excludes stock-based compensation, payroll taxes on stock option exercises, and restructuring charges and related asset impairments, fell to 3 cents a share in the latest quarter from a nickel a year earlier.
The company cited its progress in fulfilling a big government contract for its progress in the latest period.
"Sycamore's third-quarter financial results reflect initial purchases of our optical switches for the GIG-BE project," said CEO Daniel E. Smith. "While the optical-switching market environment remains difficult, we continue to work to address Sycamore's opportunities and challenges."
In early trading, the stock rose 25 cents, to $4.16.