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Orckit Reports Q3

TEL AVIV, Israel -- Orckit Communications Ltd. (Nasdaq: ORCT - News) today reported results for the third quarter and nine months ended September 30, 2006.

Revenues in the third quarter of 2006 were $15.0 million compared to $25.4 million in the quarter ended September 30, 2005 and $14.7 million in the previous quarter ended June 30, 2006.

Net income for the quarter ended September 30, 2006 was $985,000, or $0.06 per diluted share, compared to net income of $7.6 million, or $0.45 per diluted share, for the quarter ended September 30, 2005 and net income of $294,000, or $0.02 per diluted share, for the previous quarter ended June 30, 2006.

Revenues for the nine months ended September 30, 2006 were $54.6 million compared to $67.8 million for the nine months ended September 30, 2005. Net income for the nine months ended September 30, 2006 was $7.1 million, or $0.42 per diluted share, compared to net income of $14.6 million, or $0.84 per diluted share, for the nine months ended September 30, 2005.

Orckit Communications Ltd. (Nasdaq: ORCT)

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