Sycamore Networks posts deeper fiscal 3Q loss

Sycamore Networks posts deeper 3rd-quarter loss on higher research costs; revenue flat

Associated Press

CHELMSFORD, Mass. (AP) -- Communications equipment maker Sycamore Networks Inc. posted a deeper loss in its fiscal third quarter because research and development costs increased.

Shares of Sycamore Networks fell 54 cents, or 3.7 percent, to $13.96 in morning trading.

Sycamore said it lost $5.1 million, or 18 cents per share, for the three months ended April 28. In the third quarter of 2011 it took a loss of $4.1 million, or 14 cents per share.

Excluding costs related to paying employees with stock, Sycamore said it lost 14 cents in its most recent quarter.

Revenue was unchanged at $11.9 million.

The company, which is based in Chelmsford, Mass., said its research and development costs grew 12.5 percent to $7.2 million. Total operating expenses increased 3 percent to $11.7 million.

Sycamore's products help telecommunications networks manage traffic.

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