MRV Communications Inc. reported a second straight quarter of net income for the fourth quarter of 2006. The Chatsworth optical components and network equipment provider had net income of nearly $600,000, or $0.00 per diluted share, on revenues of $103 million for the quarter ending Dec. 31. That is a significant increase from the net loss of $2.6 million, or $0.02 loss per diluted share, on revenues of $91 million for the same period in 2005. The amount is also more than double the net income of $216,000 reported for the third quarter of fiscal 2006. The second quarter of the fiscal year resulted in a net loss of $2.7 million. The fourth quarter income amount was however affected by expenses related to employee stock options of $966,000 and $3.4 million respectively. For the full fiscal year, MRV reported a net loss of $5.5 million, or a $0.05 loss per diluted share, on revenues of $356.4 million. That is a reduced loss from the $16.2 million, or a $0.16 loss per diluted share, on revenues of $284 million for fiscal 2005. During the year, the company’s optical components business posted an 85 percent year-over-year increase and the networking equipment products grew 17 percent due to an increased sales force, said President and CEO Noam Lotan, in a statement. “Looking forward, we are well positioned to take advantage of key emerging industry trends such as increased adoption of Metro Ethernet in North America and the need for carriers and MSOs to upgrade their networks in order to deliver triple play services [data, voice and video] to businesses and consumers in their homes,” Lotan said.
