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million in the most recent quarter as demanr for its optical network productsremainas lackluster. The company’s stock (Nasdaq: SCMR) rose 13 percent to $3.60 a share in Thursdayt morning trading, as its loss was smaller than whatanalystws expected. The company’s stock is up 34 percengt this year. Chelmsford, Mass.-based Sycamore’s net loss for the quarter ende April 25 was nearly identical tothe company’sd year-ago performance. Revenue in the quarter rose 10 percentyto $22.98 million. In a presz release, Sycamore CEO Daniel Smith said the company continuees to operate in a challengingbusiness environment.
The company’s revenue during the firsyt nine months of its fisca l yearwas $50.1 million, compared with $100.54 million in the year-ago period. Sycamore’s balance sheey remains strongwith $714 million in cash and short-term investments. Totakl liabilities were only $32.2 million at the end of the quarter, the compan y said. The company’s market capitalizationm is about $1 billion.
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