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MRV reports Q4 revenue of $43.44m, up 0.6% Q/Q, net loss of $4.63m
Announced Date: 3/10/2015 Published Date: 3/11/2015

MRV Communications, a global provider of converged packet and optical solutions for the optical edge and network integration services to service providers, has reported financial results for the fourth quarter and full year ended December 31, 2014 as follows:


  1. Revenue for the fourth quarter of 2014 of $43.44 million, up 0.6% compared with $43.17 million in the preceding third quarter and down 14.4% versus $50.74 million in the prior year fourth quarter.

  2. Gross profit for the fourth quarter of 2014 of $13.03 million, down 11.5% compared with $14.72 million in the preceding third quarter and down 21.6% versus $16.62 million in the prior year fourth quarter.

  3. R&D expenditure for the fourth quarter of 2014 of $4.80 million, down 5.1% compared with $5.06 million in the preceding third quarter and down 15.0% versus $5.65 million in the prior year fourth quarter.

  4. SG&A expenditure for the fourth quarter of 2014 of $10.58 million, up 5.0% compared with $10.08 million in the preceding third quarter and down 2.4% versus $10.84 million in the prior year fourth quarter.

  5. Total operating expenditure for the fourth quarter of 2014 of $15.38 million, up 1.6% compared with $15.14 million in the preceding third quarter and down 6.7% versus $16.49 million in the prior year fourth quarter.

  6. A net loss for the fourth quarter of 2014 of $4.63 million, compared with a net loss of $1.04 million in the preceding third quarter and a net loss of $1.25 million in the prior year fourth quarter.

  7. Cash and cash equivalents as of December 31, 2014 of $22.42 million, versus $24.53 million as at September 30, 2014 and $27.59 million as at December 31, 2013.


Additional results and notes

For the full year ended December 31, 2014, MRV reported revenue of $172.06 million, up % versus $166.20 million in 2013, for a net loss of $12.15 million, compared to a net loss of $6.82 million in 2013.

Reported by product segment for the fourth quarter, MRV reported Network Equipment revenue of $20.57 million, down 6.4% sequentially and down 20.4% year on year, and Network Integration revenue of $22.87 million, up 7.7% sequentially and down 8.3% year on year.

The company noted that during 2014 it added 46 new customers, with 40% of these representing data centre operators or content providers.