ACADEMIA

Sycamore Networks reported its results for the first quarter ended October 29, 2011. Revenue for the first quarter of fiscal 2012 was $15.4 million, compared with $11.7 million for the first quarter of fiscal 2011.

Net loss for the first quarter of fiscal 2012, on a generally accepted accounting principles ("GAAP") basis, was $1.6 million, or $0.06 per share, compared with a GAAP net loss of $6.5 million, or $0.23 per share for the first quarter of fiscal 2011. Non-GAAP net loss for the first quarter of fiscal 2012 was $0.9 million, or $0.03 per share, compared with a non-GAAP net loss of $5.6 million, or $0.20 per share for the first quarter of fiscal 2011. The reconciliation between net loss on a GAAP basis and net loss on a non-GAAP basis is provided in a table immediately following the Unaudited Non-GAAP Consolidated Statements of Operations included with this release.

"We are pleased with our first quarter operating results, as Sycamore delivered increased revenue and continued strong margin performance from our bandwidth management business," said Daniel E. Smith, Sycamore's president and chief executive officer. "We continue to make meaningful progress in our IQstream trials with mobile operators as we work toward demonstrating the value proposition of content optimization in the radio access network, which we believe can help operators address the cost and service implications of exploding mobile data traffic."