Sycamore Networks OKs special dividend of $10

Sycamore Networks board approves special dividend of $10 per share

Associated Press

CHELMSFORD, Mass. (AP) -- Sycamore Networks' board has approved a special dividend of $10 per share. The communications equipment maker also announced Thursday that its fiscal fourth-quarter revenue came in above prior-year results.

Shares of Sycamore Networks Inc. gained 95 cents, or 6.5 percent, to $15.61 in midday trading. The stock has traded in a 52-week range of $13.02 to $20.16.

The Chelmsford, Mass., company says that the special dividend will be paid on Oct. 11 to shareholders of record on Oct. 1.

Sycamore said its fourth-quarter revenue totaled $16.8 million, up about 29 percent from year-earlier revenue of $13 million. Full-year revenue is $57.3 million, above fiscal 2011's $48.7 million.

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