Press Releases
Occam Networks Announces Delay in Filing Form 10-K
SANTA BARBARA, California – April 2, 2007 – Occam Networks Inc. (NASDAQ: OCNW) filed today with the Securities and Exchange Commission a Form 12b-25 stating that it would not file its Annual Report on Form 10-K for the year ended December 31, 2006 by today's deadline. Occam explained that it was unable to file its Form 10-K because its Audit Committee is reviewing the Company's commitments to provide customers with software, hardware and software maintenance, hardware and software upgrades, training, and other services in connection with customers' purchases of the Company's network equipment. The Audit Committee is also considering whether these commitments impact revenue recognition and the adequacy of the Company's internal controls relating to the documentation of customer commitments as part of the terms and conditions of sale. Occam will file its Form 10-K as soon as practicable following completion of the review described above and consultation with its independent registered public accounting firm.
About Occam Networks Inc.
Occam Networks' broadband loop carrier (BLC) solutions enable telecommunications and other service providers to offer innovative voice, broadband, IPTV and full triple play services over copper or fiber. Occam solutions give telco service providers the flexibility and scalability to continuously expand their offerings, with simplicity of service deployment. Occam's BLC products and services are currently deployed at over 200 service providers in North America. For more information, please visit www.occamnetworks.com.
Cautionary Note About Forward-Looking Statements
Portions of this press release may contain forward-looking statements regarding future events or the future performance of Occam Networks, including statements predicting increased adoption of products and technologies offered by Occam and the willingness and ability of our customers to purchase additional Occam products and upgrade their product offerings. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from any future performance suggested in such statements. In particular, rapidly changing technologies and market conditions may require changes to Occam's products, and the willingness of our customers to purchase upgraded products such as Triple Play will depend in part on customers' existing network configurations and any incremental costs associated with implementing upgrades. Occam does not undertake any obligation to publicly update any forward-looking statements as a result of new information, future events or otherwise. Please also refer to the company's most recent quarterly report on Form 10-Q, annual report on Form 10-K and other filings with the SEC. These filings contain and identify other important factors that could cause actual results to differ materially from those contained in any forward-looking statements.Contact:
Kirsten McGregor
Occam Networks
1.805.692.2917
kmcgregor@occamnetworks.com
Tim Johnson
Stearns Johnson Communications
+1 415.397.7600
tjohnson@stearnsjohnson.com
Occam Networks is a registered trademark of Occam Networks Inc. in the United States and/or other countries. All other trademarks mentioned are the property of their respective owners.