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.