Sycamore Networks reports wider 4Q loss

Sycamore Networks reports wider 4th-quarter loss on accounting charges

• On 1:41 pm EDT, Monday September 14, 2009

CHELMSFORD, Mass. (AP) -- Sycamore Networks Inc. said Monday its fiscal fourth-quarter loss widened as communications service providers pulled back on equipment spending and the company was forced to take a hefty accounting write-off.

The company lost $34.9 million, or 12 cents per share, in the three months ended July 31. That compares with a year-earlier loss of $14.1 million, or 5 cents per share.

Excluding impairment charges, the company said it would have lost $6.5 million, or 2 cents per share, compared with $7.8 million, or 3 cents per share a year ago.

Sales climbed 14 percent to $17.2 million from $15.1 million

For the full year, Sycamore reported a loss of $53.6 million, or 19 cents per share, compared with a loss of $114,000, or break-even per share, a year ago.

Full-year sales plunged 42 percent to $67.4 million from $115.5 million.

Shares fell 10 cents, or 2.9 percent, to $3.13 in afternoon trading.