Orckit revenues up 30% at $3.2 million in Q1 FY12

Telecom Lead Middle
: Orckit Communications has posted revenues of $3.2 million for
the first quarter of 2012, up 30 percent, as compared to $2.5 million for Q4
FY11. A year earlier, the company’s revenue stood at $4.6 million.

The company posted net loss of $3.6 million for the quarter
ended March 31, 2012, against $6.0 million for Q1 FY11 and $4.9 million for Q4

Operating expenses recorded at $4.2 million compared to $7.1
million in the comparable quarter last year.

Orckit is in talks for potential selection by a major Tier 1
telco in Asia. The company said the selection will help it expand its reach in
the region and complement its presence in India and Japan.

Furthermore, Orckit said that it started initial shipments
for an additional utility carrier in Latin America for two separate projects –
one in Guatemala and one in Costa-Rica.

During the quarter, Orckit’s PTN solution was selected by
three new customers, out of which two in Europe and one in Latin America. The
company said that revenues from one of these new customers began in the second
quarter of 2012 and revenues from the other two new customers are expected to
begin in the third quarter of 2012.

Orckit is currently engaged with four global OEM channels.
The Company has received sales orders through two other major global OEM’s, one
from Asia and the other from America.

Orckit said that total revenues generated through these
three OEM channels in the last two years were nearly $10 million.

Orckit said that it in discussions with a fourth global OEM
channel to have its products included in the OEM’s portfolio.

Orckit is hopeful its product will be included in the
portfolio to be supplied by this OEM to a telecommunications provider in India
and in other markets.

Orckit has shipped approximately $9 million worth of
products to BSNL to date, through two OEM channels, one of which is ITI.

According to the internal regulations of BSNL, it can issue
a specific follow on order for Orckit equipment in an amount of Indian Rupees
equal to approximately $6.5 million through ITI, not directly through Orckit.
Orckit expected to receive this follow on order during the second quarter of

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