Sorrento Expecting 80% Revenue GrowthSorrento Expecting 80% Revenue Growth
Osicom subsidiary projects revenue from shipments of products during the third quarter in excess of $6.5 million
October 26, 2000
SAN DIEGO -- Osicom Technologies Inc. (Nasdaq: FIBR - news), which through its flagship subsidiary, Sorrento Networks Inc., is a leading developer and marketer of end-to-end optical networking solutions for metropolitan and access networks, today announced expectations for revenue from Sorrento Networks for the third quarter ending October 31, 2000. Sorrento expects to report revenue from shipments of products during the quarter in excess of $6.5 million. This would represent over 80 percent sequential growth from second quarter 2001 revenue of $3.6 million.
"We are very encouraged to see shipments continue to ramp up due to the strength of our strategic customers and recently announced agreements. As a result, we are expecting increased revenues for the third quarter and have a positive outlook for the future," said Dr. Xin Cheng, Osicom's chairman and chief executive officer.
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