Osicom Projects 50% Sorrento Growth

SAN DIEGO -- Osicom Technologies, Inc. (Nasdaq:FIBR - news), which through its flagship subsidiary, Sorrento Networks, Inc., is a leading supplier of end-to-end, intelligent optical networking solutions for metro and regional applications worldwide, today affirmed expectations for revenue from Sorrento Networks for the fourth quarter ending January 31, 2001. It also provided expectations for the first quarter of fiscal year 2002, ending April 30, 2001. Sorrento expects to report revenue from shipments of products during the fourth quarter FY2001, to reach 50 percent sequential growth from third quarter 2001 revenue of $7.1 million. Sorrento also expects to report 50% quarter-to-quarter growth for the first fiscal quarter in 2002.

"We are very pleased with the pace at which we are continuing to grow," said Dr. Xin Cheng, Osicom's chairman and chief executive officer. "Continued strong demand from our existing and new customers are the basis for the positive forecast in both this and the next quarter," added Cheng. "It also reinforces the strength of our portfolio in the marketplace."

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