(RTTNews) - Thursday, Sycamore Networks, Inc. (SCMR: News ), a bandwidth management solutions provider, said its loss for the first quarter widened from a year ago, as a result of expenses related to restructuring and related asset impairment.

Sycamore Networks' GAAP net loss for the first quarter widened to $10.4 million or $0.04 per share from a net loss of $5.8 million or $0.02 per share in the first quarter of 2009.

Non-GAAP net loss for the first quarter was $3.2 million, compared with a loss of $3.5 million a year ago. Non-GAAP loss per share for the quarter was $0.01 per share, flat with last year.

Revenue for the quarter increased to $15.62 million from $15.43 million in the year-ago period. Sycamore's cost of revenue declined to $7.84 million from $9.35 million in the prior year period.

Research and development expenses declined to $8.67 million from $11.45 million in the year-ago period. Sales and marketing expenses declined to $2.58 million from $4.07 million. However, general and administrative expenses increased to $2.30 million from $1.73 million last year.
Restructuring and related asset impairment increased to $6.30 million from $0.63 million in the year-ago quarter.

The company's board approved a cash distribution of $1.00 per share of common stock, which will be paid on December 15, 2009 to stockholders of record as of November 30.

Sycamore Networks also said that the board of directors approved on November 18 a one-for-ten reverse stock split of the company's common stock and corresponding amendment to its Amended and Restated Certificate of Incorporation, which will be effective after the close of business on December 21, 2009.

SCMR is currently trading on the Nasdaq at $2.87, down $0.07 or 2.38%.

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by RTT Staff Writer

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