Revenue up 49%
Occam Networks, a provider of broadband access services, has posted a GAAP net income of $1.1m, or $0.06 per basic and diluted share, for the fourth quarter ended December 31, 2008, compared with a GAAP net loss of $4.5m, or $0.23 per basic share, for the fourth quarter of 2007.
Revenue for the fourth quarter of 2008 was $31.66m, up 49% from $21.26m from the same quarter of 2007.
For full-year 2008, revenue was $99.3m, up 32% from $75.12 in 2007. GAAP net loss for 2008 was $6.7m, or $0.34 per basic share, compared with a GAAP net loss for 2007 of $10.4m, or $0.53 per basic share.
Bob Howard-Anderson, president and CEO of Occam, said: During the year, our key goal was to position Occam for profitability by growing our overall customer base and launching sales of our GPON product, and these drove the successful execution of our business during the quarter. During the quarter we also experienced some slowdown in bookings and have seen additional order delays during the first quarter, as customers reacted to the economic environment.