MRV Communications Reports Q2 Earnings

MRV Communications, Inc. reported net income of $3 million in the second quarter of 2010 and revenue growth of 12 percent year over year due in part to strong growth in its Optical Components group – one of three operating segments of the company. The Chatsworth based company specializes in networking equipment, services and optical components for high-speed carrier and enterprise networks, as well as specialized aerospace, defense and other communications networks. Overall, MRV reported net income of $3.0 million or $0.02 per diluted share for the quarter ended June 30, on revenues of $122.2 million. For the same period in 2009 the company reported a loss of $6 million or $0.04 per diluted share on revenues of $104.9 million. The Optical Components group, consisting primarily of Source Photonics, Inc., reported revenue of $64.3 million in the second quarter 2010, compared with $49.5 million in the prior quarter and $50.1 million in the second quarter of 2009.