CoSine Reports 68% Revenue Growth

REDWOOD CITY, Calif. -- CoSine Communications, Inc. (Nasdaq: COSN - news), a leading provider of managed, network-based IP systems, today announced revenues for the quarter ended September 30, 2000 of $13.0 million, and a proforma net loss (excluding non-cash equity-related charges) for the third quarter of $22.5 million or $(0.28) per share. Third quarter revenue increased 68% over the second quarter 2000 revenue of $7.8 million.

In the prior year third quarter ended September 30, 1999, no revenue was recognized and the pro forma net loss was $8.4 million or $(0.16) per share. Revenue for the second quarter of 2000 (ended June 30, 2000) was $7.8 million, with a proforma net loss of $17.7 million or $(0.24) per share.

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