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Symmetricom CEO: Overall business environment remains challenging

"The steps we announced today are the result of a recent comprehensive business review and reflect the driving of efficiencies across our operations, while continuing to meet the needs of our customers." said Elizabeth Fetter, CEO of Symmetricom. "The overall business environment remains challenging as we face a number of headwinds which we expect will continue into fiscal 2014. These actions better position our business and demonstrate our commitment to delivering solid profitability in the current operating environment while continuing to invest in our key growth initiatives. Since being appointed CEO, I have been meeting directly with our employees and customers and have been impressed with the technology depth and strong partnerships we have, which provides a strong platform for long-term growth."