For the quarter ended Jan. 31, the company reported a sales increase of 17% over Q2 to more than $40M and a record net income of $4.8M

March 1, 2001

1 Min Read

CHICAGO -- Stratos Lightwave, Inc., (Nasdaq: STLW) a leading supplier of optical subsystems and optical components, today announced financial results for its third fiscal quarter ended January 31, 2001. The Company reported a sequential sales increase of 17 % over the second quarter to more than $40 million, as well as record net income in the quarter of $4.8 million or $0.08 per share, and $10.9 million or $0.17 per share for the first nine months of fiscal 2001.

"We are pleased with the third quarter results, particularly in light of the current environment in the communications sector," commented James W. McGinley, President and Chief Executive Officer. "In addition to having met our previously stated guidance, we achieved record sales and earnings, and realized a healthy increase in our gross margin. New products, such as the recently announced "rate-agile" optical transceivers and the Small Form Factor transceivers, along with the optical backplane connectivity products, continue to broaden our product mix."

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