MRV Communications Inc. narrowed its net loss in the second quarter while revenue stayed just about flat, the company said Monday.
The Chatsworth maker of telecommunications components reported a net loss of $280,000 (-4 cents a share) for the quarter ended June 30, compared with a net loss of $2.3 million (-31 cents) in the same period a year earlier. Revenue decreased less than 1 percent to $42.7 million.
No analysts follow the company.
MRV also announced Monday the sale of Tecnonet S.p.A., its network integration subsidiary based in Rome to Maticmind S.p.A., in Milan, for $21.4 million.
MRV Chief Executive Mark Bonney said the sale allows the company to focus on supporting its optical network component business.
“The timing of this transaction aligns well with our plans for the network equipment business as increasing bandwidth demand for cloud, mobility and video services is accelerating market growth,” Bonney said in a prepared statement.
Shares closed up 23 cents, or nearly 2 percent, to $12.05 on the Nasdaq.