Occam in the News
Occam tumbles after restatement
October 22, 2007
Occam Networks, a Santa Barbara-based telecommunications equipment provider, on Oct. 16 restated its financial results for 2004 through 2006 to the Securities and Exchange Commission. By mid-day Oct. 17, shares had fallen $3.23, or 35 percent, to $6. The company's stock has not traded that low since 2005. Occam restated its annual reports after it found errors in how it accounted for service agreements when figuring its revenues. The firm also said its third-quarter loss "will increase substantially" from its second quarter loss.