Key Developments For Occam Networks, Inc.
Occam Networks, Inc. (OCNW.O) (Consolidated Issue listed on NASDAQ Global Market)
Occam Networks, Inc. Issues Q4 2009 Revenue Guidance Below Analysts' Estimates
Occam Networks, Inc. announced that it currently expects fourth quarter 2009 revenue to be relatively flat with third quarter 2009. Revenue for the third quarter 2009 was $21.7 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $23.2 million for the fourth quarter 2009.
Occam Networks, Inc Reaches Settlement In Stockholder Class Action Litigation
Occam Networks, Inc. announced that it has agreed to settle and resolve a stockholder class action lawsuit initially filed on April 26, 2007 against Occam, certain of its current and former officers and directors, Occam`s current and former outside auditors, and the lead underwriter of Occam`s November 2006 secondary public offering. The litigation is pending in the United States District Court for the Central District of California and relates to a restatement of Occam`s historical financial statements that was announced and completed during 2007. The settling parties have entered into a memorandum of understanding and will sign and submit a formal, binding stipulation of settlement to the court in the coming weeks. The settlement will resolve this matter as to all defendants other than Occam`s current outside auditor who is not part of this settlement. The settlement provides for a payment to the class of $12.66 million, of which Occam has agreed to contribute $1.7 million and the balance of which will come from Occam`s insurers and another settling defendant. Occam expects to incur a $1.7 million charge in the quarter ended September 30, 2009 associated with the settlement.
Hatteras and Occam Networks, Inc. Announce Joint Solution and Partnership
Hatteras Networks and Occam Networks, Inc. announced their partnership, and commitment to interoperability and market focus alignment. The joint Occam / Hatteras solution is aimed at optimizing and extending broadband access to residential, business and municipal customers.
Occam Networks, Inc. Introduces New GPON ONTs
Occam Networks, Inc. announced the introduction of three new GPON optical network terminals (ONTs) designed to accelerate the transition to FTTP. The ON 2541, 2543 and 2544 ONTs offer a wide range of features allowing for maximum flexibility to fit subscribers` needs as well as the providers` network architecture.
Farmers Telephone Cooperative Extends Deployment Of Occam Networks, Inc.'s BLC 6000 System To Include Fiber Solutions
Occam Networks, Inc. announced that Farmers Telephone Cooperative (FTC), who previously selected and deployed the Occam BLC 6000 products to build out its advanced broadband network, is now using the latest GigE and GPON FTTP options from Occam Networks to deliver IPTV to its deepest rural and highest density service areas.
