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Friday, Mar 29, 2024

MRV Posts Loss

MRV Communications, Inc. posted a net loss of more than $2 million for the second quarter that ended June 30. The Chatsworth company reported a loss of $2.6 million, or $0.02 per diluted share, on revenues of $87 million. The loss is a reduction of the $4.1 million loss reported for the second quarter of 2005. The company’s revenues were a 35 percent increase over the same reporting period in 2005. MRV President and Chief Executive Officer Noam Lotan called the financial results a move toward achieving profitability. “The recent investments we made in our domestic sales force showed initial signs of success during the quarter as our networking equipment sales grew solidly in North America driven by demand for our Metro Ethernet solutions,” Lotan said. MRV Communications is a provider of network equipment and services and optical components used by commercial customers, governments and telecommunications service providers.

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