Revenue increased 12 % on a sequential basis from the USD 8.3 million reported for the prior quarter ending September 30, 2009. For the full year of 2009, revenue totaled USD 36.2 million compared to revenue of USD 45.2 million for 2008.

The net loss for the fourth quarter of 2009 was USD 234 thousand, or (USD 0.06) per diluted share, compared to a net loss of USD 3.0 million, or (USD 0.81) per share for the same period in 2008. The fourth quarter of 2008 included non-cash charges of USD 3.5 million, primarily for the write-down of deferred tax assets. For all of 2009, Optelecom-NKF reported a net loss of USD 2.4 million, or (USD 0.66) per diluted share, compared to a net loss of USD 1.8 million, or (USD 0.48), in 2008.

Optelecom-NKF also announced the restructuring of subordinated debt held by Draka Holding, N.V. Under terms of the agreement, Optelecom-NKF will make quarterly interest payments at an annual interest rate of 10 % and provide Draka with additional collateral and a pledge of assets. In exchange, Optelecom-NKF received a one year extension of the term to March 8, 2011. Prior to the execution of the restructuring agreement with Draka, Optelecom-NKF paid off and terminated the senior term loan and line of credit facilities with M&T Bank.

"While we showed improvement quarter-to-quarter and restructured our debt, it's clear we must continue to take steps to support long term growth and contain costs," said Dave Patterson, Optelecom-NKF's president and CEO. "Our ongoing focus is on improving global sales performance. We'll continue to strengthen our Siqura brand, streamline how we work, and work to improve our insight into the evolving needs of our customers."

"During the business downturn, we implemented a reduction-in-force and cut overhead to a level more in line with our revenues. We also made changes in our sales leadership and structure. We now have fewer levels from the bottom to top, improving the flow of information and increasing the speed of decision making. While the business environment seems to be improving, we have yet to see capital spending commitments by customers rebound to pre-crisis levels. Appropriately, we've laid out a conservative plan for 2010, anticipating that we can quickly adapt should conditions exceed our expectation."