Sycamore Networks, Inc. Reports Fourth Quarter Fiscal Year 2000 Financial Results
biz.yahoo.com
CHELMSFORD, Mass.--(BUSINESS WIRE)--Aug. 24, 2000--Sycamore Networks, Inc. (NASDAQ: SCMR - news), a leader in intelligent optical networking, today reported its fourth quarter results for the period ended July 31, 2000.
Revenues for the fourth quarter of fiscal 2000 were $90.4 million compared with $59.2 million for the third quarter of fiscal 2000, an increase of 53 percent. Revenues for the fourth quarter of fiscal 2000 increased by 698 percent compared with the fourth quarter of fiscal 1999. Pro forma net income, which excludes the amortization of deferred stock compensation, for the fourth quarter of fiscal 2000 was $20.4 million or $0.08 per share compared with a pro forma net loss of $6.4 million or $(0.04) per share for same period in fiscal 1999.
Actual net income for the fourth quarter of fiscal 2000, including the amortization of deferred stock compensation, was $18.3 million or $0.07 per share, compared with actual net loss of $9.1 million or $(0.06) per share for the same period in fiscal 1999.
Revenues for fiscal year 2000 were $198.1 million compared to $11.3 million for fiscal year 1999. Pro forma net income for fiscal year 2000 was $29.4 million or $ 0.12 per share compared with a pro forma net loss of $16.0 million or $(0.14) per share for fiscal year 1999. Actual net income for fiscal year 2000 was $20.4 million or $0.08 per share, compared with actual net loss of $19.5 million or $(0.17) per share for fiscal year 1999.
All per share amounts are computed on a pro forma basis which assumes the conversion of all redeemable convertible preferred stock into common stock as if such conversion occurred at the date of original issuance.
``We are extremely pleased with our fourth quarter results and solid performance in our first year as a public company,'' said Dan Smith, Sycamore Networks' president and chief executive officer. ``During the year, we extended and enhanced our intelligent optical networking product portfolio, diversified our customer base and greatly expanded the company, both domestically and internationally. Looking ahead, we see the intelligent optical network extending all the way from the core to the edge of the public network. We look forward to further broadening the range and reach of our product portfolio to create new optical service and technology value for our customers.''
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Hi Jerry,
I've been watching this one since February of '99. Just couldn't sit this out any longer. Expect good support from the street heading forward. Technically, this company is superior. Now it looks like the financial picture is become more clear as well.
Bon Chance, Ray |
