Occam Networks Q3 net loss narrows
Published:11-November-2008
By Samuel Abraham
Occam Networks, a US-based broadband access supplier, has posted net loss of $659,000, or a loss of $0.03 per basic share, compared with a net loss of $4.9 million, or $0.25 per basic share, for the third quarter of 2007.
Revenue for the third quarter of 2008 was $25.1 million, up 60% compared to $15.66 million in the corresponding quarter of 2007.
For the first nine months of 2008, the company posted net loss of $7.85 millions, or $0.4 per basic share, compared to a loss of $5.82 million, or $0.29, for the same period of 2007. The company's revenue during the first nine months of 2008 increased to $67.61 million from $53.89 million in the comparable period of 2007.
Bob Howard-Anderson, president and CEO of Occam, said: "During the quarter, we saw strong initial customer adoption of our new GPON product, recorded additional incremental sales to FairPoint for its Northern New England initiative, and continued to grow our overall customer base. In addition we made good progress toward our goal of returning to profitability. While the impact of the current economic environment is difficult to predict, we are encouraged by our results and the early success of GPON."
