Bookham losses creep up

NEWS Third quarter losses for Bookham Technology, a maker of silicon optical components have doubled since last year. It's now in the red by £13.7m. The news is also bad on the revenues front with a 69 per cent decrease on the equivalent period last year. As a supplier to the telecoms industry, Bookham has seen orders dry up. But the company's efforts to reduce costs have had a positive impact on its cash burn. It has shaved 19 per cent from its cost base taking nearly £10m off its burn rate. The news pushed the company's share price up by more than 11.5 per cent to 112p during trading this morning.