COLUMBIA, Md.-- Corvis Corporation (NASDAQ:CORV - news), the only company delivering intelligent all-optical networking solutions, today reported revenues of $84.1 million for its fiscal first quarter ended March 31, 2001. This represents an increase of 82.8% compared with revenues of $46.0 million for the previous fiscal quarter ended December 30, 2000.

Revenues for the first quarter were generated by continued commercial deployment of both transport and switching products, under the company's two-year contract with Broadwing Communications, Inc. and the completion of a successful field trial deployment with Williams Communications.

"Corvis kicked off the year with a strong first quarter financial performance through the successful delivery of Corvis networking solutions," said Dr. David Huber, Chairman and Chief Executive Officer. "We continue to see growth opportunities across our full suite of intelligent optical networking products, and are looking forward to continuing to execute for our customers in the year ahead."

Pro forma net loss for the current quarter was $23.0 million, or $0.07 loss per share, excluding goodwill and other intangible assets amortization expense and equity-based expense. Reported net loss was $100.8 million, or $0.29 loss per share, for the current quarter as compared with a reported net loss of $26.8 million, or $0.65 loss per share for the first quarter of 2000.

http://www.corvis.com/news/release.cfm?num=131