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MRV reports Q4 revenue of $18.56m, down 9.8% yr/yr, net loss of $6.72m
Announced Date: 3/8/2016 Published Date: 3/10/2016

MRV Communications reported financial results for the fourth quarter and twelve-months ended December 31, 2015 as follows:


  1. Revenue for the fourth quarter of 2015 of $18.56 million, down 50.2% compared with $37.25 million in the preceding third quarter and down 9.8% versus $20.57 million in the prior year fourth quarter.

  2. Gross profit for the fourth quarter of 2015 of $9.96 million, down 32.1% compared with $14.68 million in the preceding third quarter and up 3.8% versus $9.59 million in the prior year fourth quarter.

  3. R&D expenditure for the fourth quarter of 2015 of $5.11 million, up 4.3% compared with $4.90 million in the preceding third quarter and up 6.4% versus $4.80 million in the prior year fourth quarter.

  4. SG&A expenditure for the fourth quarter of 2015 of $6.57 million, down 23.5% compared with $8.59 million in the preceding third quarter and down 21.7% versus $8.39 million in the prior year fourth quarter.

  5. Total operating expenditure for the fourth quarter of 2015 of $11.68 million, down 13.4% compared with $13.49 million in the preceding third quarter and down 11.5% versus $13.20 million in the prior year fourth quarter.

  6. A net loss for the fourth quarter of 2015 of $6.72 million, compared with a net income of $886,000 in the preceding third quarter and a net loss of $4.63 million in the prior year fourth quarter.

  7. Cash and cash equivalents as of December 31, 2015 of $26.17 million, compared with $16.14 million as at December 31, 2014.


Additional results and notes

For the full year 2015, MRV reported revenue of $88.20 million, compared with $86.54 million in 2014, with a net loss of $7.18 million, versus a net loss of $12.15 million in 2014.

MRV noted that during the year it increased the OptiDriver customer count to 85, almost doubling the number of cumulative customers over the year and including new customers in the data centre segment. The company also expanded its relationships with Tier 1 customers for existing products to include the OptiPacket solution.