ORCT doesn't really need to "take on the big guys." They specialize in "Triple Play" communications gear, which allows a service provider (i.e., telecomm or cable) to offer voice, data, and video together across networks. Here's a Businessweek article discussing how the "Triple Play" is the big trend in the industry: http://yahoo.businessweek.com/investor/content/nov2005/pi2005114_7121_pi044.htm
ORCT's market cap is about 1/4 of 1% of CSCO's, so they're really a small niche player. Up until the current quarter, they've only had 1 main customer, KDDI in Japan. On the conference call, they mentioned they had begun shipments to a U.S. telecom carrier, though no revenues were included in the Q3 report and there has been no formal announcement of this customer yet, by the customer's request. They also hinted at several potential new customers, particularly in Asia.
ORCT's forecasted 35% EPS growth for next year is only based on the customers they already have, so yes they can continue growing even without adding any new customers as their existing customers deploy their products. New customers will add to this growth. They are only now moving to profitability, with 3 profitable quarters in the books and guidance to .41 EPS in Q4 vs. a sizable loss in last year's Q4.
It's really early in the game for ORCT, and they're making all the right moves so far and seem to be in the right place at the right time for the "Triple Play" trend.
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