Key Developments For Orckit Communications Ltd.
Orckit Communications Ltd. (ORCT.O) (Consolidated Issue listed on NASDAQ Global Market)
Telecommunication Service Provider Selects Orckit Communications Ltd.'s CM-4000
Orckit Communications Ltd. announced that its CM-4000 product was selected by a telecommunication service provider in India through an OEM channel. Orckit-Corrigent's solution will be deployed as part of a next generation triple play network based on GPON technologies. The total expected revenues to Orckit-Corrigent from the first phase of deployment through this OEM channel are approximately $4.0 million.
Orckit Communications Ltd. To Upgrade MetroNet Communications Networking Infrastructure
Orckit Communications Ltd. announced that MetroNet Communications, a Mexican telecommunication service provider, is upgrading its networking infrastructure with the Orckit-Corrigent CM-4000 portfolio. MetroNet is deploying Orckit-Corrigent CM-4000 in a few large metropolitan networks. CM-4000 upgrades MetroNet “Carrier of carriers” network and enables high-end connectivity solutions to most of the Mexican telecommunication operators. Financial terms of the agreement were not disclosed.
Orckit Communications Ltd. Added To The Mid Cap-50 Index On TASE
Orckit Communications Ltd. announced that it will become a component of the Mid Cap-50 Index on the Tel Aviv Stock Exchange, effective July 1, 2009.
Orckit Communications Ltd. Removes From TA-75 On The TASE
Orckit Communications Ltd. (Israel) announced that it will be removed from the TA-75 Index on the Tel Aviv Stock Exchange effective July 1, 2009.
Orckit Communications Ltd. Issues Q2 2009 Revenue Outlook Below Analysts' Estimates; Issues Q2 2009 EPS Outlook In Line With Analysts' Estimates;
Orckit Communications Ltd. announced that second quarter of 2009, it expects revenues to be approximately $4.0 million, with a net loss of approximately $6.2 million, or approximately $(0.37) per share. According to Reuters Estimates, analysts were expecting the Company to report revenue of $5.8 million, net loss of $8.3 million and EPS of $(0.37) for the same period.
