Occam Networks’ 3Q up 10 percent

Fri, 11/07/2008 - 7:25am
Mike Robuck

Paced by sales of its GPON offering, Occam Networks’ third-quarter revenue increased 10 percent over the previous quarter and 60 percent from the same quarter a year ago.

Santa Barbara, Calif.-based Occam Networks posted third quarter revenues of $25.1 million for the quarter that ended Sept. 30.

Revenue for the third quarter was $25.1 million, up 10 percent compared with the prior quarter and up over 60 percent from the same quarter a year ago. The sequential increase in revenue was due to higher sales of fiber products.

Gross margin was $10.8 million, or 43 percent of revenue, compared with $10.1 million, or 44 percent of revenue, for the prior quarter. Occam Networks said gross margin for the second quarter of 2008 benefited from a one-time warranty reserve adjustment. 

The company’s net loss was $659,000, or 3 cents a share per, compared with a net loss of $2.7 million, or 13 cents a share, for the second quarter of 2008 and with a net loss of $4.9 million, or 25 cents a share, for the third quarter of 2007. 

“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,” said Bob Howard-Anderson, president and CEO of Occam.  “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.”

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