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Sycamore beats estimates
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August 24, 2000: 5:27 p.m. ET
Optical networking supplier earns 8 cents a share; revenue jumps 53%
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NEW YORK (CNNfn) - Sycamore Networks Inc. capped off its first full fiscal year as a public company on the upside, reporting a fourth-quarter profit that beat Wall Street's estimates by two cents per share.
The company, which supplies components used in fiber-optic networks, said it earned $20.4 million, or 8 cents per share, excluding charges related to employee stock options. That compares with a loss of $6.4 million or 4 cents per share during the same period last year.
Analysts polled by earnings tracker First Call had expected Sycamore to earn 6 cents per share during the quarter.
Sycamore's revenue for the quarter was $90.4 million, up 53 percent from $11.3 million in the fiscal fourth quarter last year.
Actual net income for the fourth quarter of fiscal 2000, including the amortization of deferred stock compensation, was $18.3 million or 7 cents per share, compared with actual net loss of $9.1 million or 6 cents per share for the same period in fiscal 1999.
 For all of fiscal year 2000, Sycamore recorded net income of $29.4 million, r 12 cents per share. That compares with a net loss of $16 million, or 14 cents per share, in fiscal 1999.
Revenue for the full fiscal year was $198.1 million, up from $11.3 million in fiscal 1999.
"We are extremely pleased with our fourth quarter results and solid performance in our first year as a public company," said Dan Smith, Sycamore's president and chief executive. "During the year, we extended and enhanced our intelligent optical networking product portfolio, diversified our customer base and greatly expanded the company, both domestically and internationally."
Based in Chelmsford, Mass., Sycamore makes optical networking products that transport voice and data traffic over wavelengths of light. It competes with the likes of Ciena (CIEN: Research, Estimates), Lucent Technologies (LU: Research, Estimates) and Nortel Networks (NT: Research, Estimates).
Sycamore (SCMR: Research, Estimates) shares slipped 1-7/8 to close at 158 in Nasdaq trade ahead of the announcement. 
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Sycamore Networks
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