Occam Networks reported revenue for 4Q03of $3.8M, a company record and an increase of more than 150% over the previous quarter

January 28, 2004

1 Min Read

SANTA BARBARA, Calif. -- Occam Networks Inc. (OTCBB: OCCM), a supplier of innovative Ethernet and IP-based loop carrier equipment to telecommunications service providers worldwide, today reported results for the fourth quarter of 2003, which ended Dec. 31, 2003. Occam Networks reported revenue for the quarter of $3.8 million, a company record and an increase of more than 150 percent over the third quarter of 2003. During the fourth quarter of 2003 Occam Networks gained five new customers, including its first customer outside of the United States for BLC products.

During the quarter, the company also raised $16.4 million (net of transaction costs) of additional capital funding, as announced previously. The company expects to complete the funding round during the first quarter of 2004.

“By achieving record revenues for the quarter, completing our latest round of funding and addressing some key operational issues we are in a very favorable position to continue to fulfill our business goals,” said Bob Howard-Anderson, president and CEO of Occam Networks. “We look forward to capitalizing on this momentum as we continue to deliver the first truly IP-based local access networks to our customers.”

Occam Networks Inc.

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