MRV Communications (MRVC) Reports Q1 Loss of $0.07

MRV Communications (NASDAQ: MRVC) reported Q1 EPS of ($0.07), versus ($0.47) reported last year. Revenue for the quarter came in at $38.8 million, versus $42.3 million reported last year.

Mark Bonney, president and chief executive officer of MRV, stated, “In the first quarter, we achieved significantly improved financial results, both sequentially and compared to the first quarter of 2014, with expanded gross margins and reduced operating expenses in each business. Our revenue declined due to the recent foreign exchange impact on the Euro on our Network Integration business, which is based in Italy. In constant currency, first quarter 2015 revenues would have been approximately the same as the first quarter of 2014.”

Mr. Bonney added, “Our Network Integration business continues to perform well, and we are exploring strategic alternatives for this business to help unlock and realize the value of our two independent and distinct lines of business.

“We are pleased with the positive trends in our Network Equipment business, and see significant growth opportunities in this segment as the products we have developed address the increasing bandwidth demand for cloud, mobility and video services. During the quarter, we achieved several significant milestones. OptiDriver® is gaining traction among service providers and data center operators, most notably in the Americas and EMEA, and the OptiDriver customer count rose to 59. Additionally, we achieved all of our OptiPacket® product development milestones and completed a successful trial in a Tier One account. We also secured our first OptiPacket order, which was a combined sale with OptiDriver and Pro-Vision®, our service orchestration software platform, to a North American service provider. This demonstrates our ability to provide an end-to-end solution for metro service edge networks,” concluded Mr. Bonney.

For earnings history and earnings-related data on MRV Communications (MRVC) click here.

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