Sorrento Networks Announces Record Third Quarter Orders From Europe
SAN DIEGO, Oct 29, 2002 (BUSINESS WIRE) -- Sorrento Networks Corp.
(Nasdaq\NM:FIBR) (Nasdaq\NM:FIBRD), a leading provider of metro and regional
optical networking solutions, announced today that its European operations have
received orders exceeding $5.5 million -- the highest quarterly total in the
company's history -- during its fiscal third quarter scheduled to end on Oct.
31, 2002.
A conference call to discuss third quarter revenue and earnings will be
announced at a later date.
"Strong sales activity, in both Europe and North America, over the past six
months is now translating into orders and we expect to enter the fourth quarter
with a healthy backlog," said Phil Arneson, Sorrento Networks' chairman and CEO.
Manfred Seehagen, Sorrento's vice-president of European operations said, "We are
very pleased with our progress in Europe and feel that our approach in the
region continues to produce successful results. We see increased activity and
order placement from both existing and new customers." Seehagen added, "Carriers
and enterprise end-users appreciate the proven reliability and flexibility of
our GigaMux(TM) DWDM platform and especially value the personalized service they
receive from Sorrento."
Sorrento Networks recently introduced a number of product enhancements to its
popular metro DWDM product line, GigaMux(TM), responding to customer
requirements for improved density and operational savings as well as for support
of new services. These new capabilities, which became available starting in
October 2002, include a highly integrated filter core, a new optical protection
module, as well as new multi-rate regenerating transponders that support 2.1
Gbit/sec Fibre Channel in addition to other services such as SONET/SDH, ESCON,
and Gigabit Ethernet.
"Sorrento's product and business strategy remains focused on mainstream
revenue-producing applications," stated Dr. Demetri Elias, the company's vice
president of marketing. "Our GigaMux product line has been widely adopted by a
number of major carriers and cable operators in Europe and North America for
managed datacenter connectivity services as well as for metro-core and regional
optical networking applications," he added.
Sorrento Networks' GigaMux is a metro and regional dense wavelength division
multiplexing (DWDM) platform that transforms any fiber plant into a
high-performance, multi-protocol transmission network with up to 64 times the
transmission capacity. GigaMux is a compact, flexible, and cost-effective system
based on a "pay-as-you-grow" architecture. Working in conjunction with GigaMux
is the EPC product family, consisting of sub-rate aggregation multiplexers that
increase bandwidth utilization by combining a wide variety of traffic for
transmission over a single wavelength, including ESCON, Fibre Channel, Fast
Ethernet, Gigabit Ethernet, and SONET/SDH channels. For entry-level networks,
Sorrento also offers JumpStart-400, a cost-effective 8-wavelength, coarse
wavelength division multiplexing (CWDM) platform.
About Sorrento Networks
Sorrento Networks, with headquarters in San Diego, is a leading supplier of
intelligent optical networking solutions for metro and regional applications
worldwide. Sorrento Networks' products support a wide range of protocols and
network traffic over linear, ring and mesh topologies. Sorrento Networks'
existing customer base and market focus includes communications carriers in the
telecommunications, cable TV and utilities markets. The storage area network
(SAN) market is addressed though alliances with SAN system integrators. Recent
news releases and additional information about Sorrento Networks can be found at
www.sorrentonet.com.
Note: As of Monday, Oct. 28, 2002, the effective date of the 1 for 20 reverse
stock split, the company's common stock trades with the interim ticker symbol
"FIBRD". After 20 trading days, the company expects that its ticker symbol will
revert back to "FIBR". |
