SPOTLIGHT: Occam investors demand changes

Occam Networks, a relatively small optical equipment vendor that has had great success landing contracts in the independent telco market, drew massive criticism from investors during its earnings call yesterday. Occam earlier this week said it was restating financial reports for 2004 to 2006, during which it pre-maturely recorded about $33 million in revenue, and also forecast a decline in revenue. On the call, investors pounded Occam management with questions about how the accounting problem happened, and made multiple demands that the company be sold or management changes be made.

Occam works with a lot of very small rural telcos, so whatever happens, hopefully they will continue to get the technology support they need. Certainly, large vendors won't be keen on doing it, and the number of smaller vendors working at that end of the market has shrunk dramatically.

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