San Jose, CA.—Jan. 29, 2004—Symmetricom, Inc. (NASDAQ:SYMM), a leading worldwide supplier of atomic clocks and network synchronization and timing solutions, today reported results for its fiscal second quarter ended December 31, 2003.

Fiscal second quarter net sales were $41.0 million, an increase of $2.5 million, or 6.4 percent, over prior quarter sales of $38.5 million.

The net loss for the fiscal second quarter was $3.8 million, or $(0.09) per share. The loss includes a restructuring charge of $6.8 million, which equates to $(0.10) per share after tax, primarily related to the closure and consolidation of the Irvine manufacturing plant. The net loss for the prior quarter was $2.3 million, or $(0.05) per share, including a restructuring charge of $770,000, which equated to $(0.01) per share after tax.

"I am pleased with Symmetricom's performance this quarter, especially with regard to revenue, gross margin and operating expenses," said Thomas Steipp, chief executive officer of Symmetricom. "We completed the closure of the Irvine facility, marking the completion of the integration of Datum and TrueTime into Symmetricom. We also had a significant increase in China-related revenue, which reached six percent of total revenue, and the addition of two new broadband customers for a total of $1.7 million in orders to be shipped over the next four quarters."

Outlook for Q3 FY04

Symmetricom expects fiscal third quarter FY04 revenue to be within a range of $40 million and $45 million and fiscal third quarter earnings to be in the range of $0.02 to $0.05 per share.

INVESTOR CONFERENCE CALL
As previously announced, management will hold a conference call to discuss these results today, January 29, 2004 at 1:30 p.m. Pacific Time. Those wishing to join should dial 773-756-4625, passcode "Symmetricom". Please reference the conference leader: Thomas Steipp. A live webcast of the conference call will also be available via the company’s website at www.symmetricom.com or www.vcall.com. A replay of the call will be available for one week. To access the replay, please dial 888-562-6119.

Safe Harbor
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbor created by those sections. These forward-looking statements include statements concerning estimates of future revenue and earnings. Symmetricom's actual results could differ materially from those projected or suggested in these forward-looking statements. Factors that could cause future actual results to differ materially from the results projected in or suggested by such forward-looking statements include: reduced rates of demand for telecommunication products and test and measurement products, timing of orders, cancellation or delay of customer orders, difficulties in manufacturing products to specification, customer acceptance of new products, customer delays in qualification and field trials of key new products, geopolitical risks such as terrorist acts and the risk factors listed from time to time in Symmetricom's reports filed with the Securities and Exchange Commission, including but not limited to, the report on Form 10-K for the year ended June 30, 2003 and the report on Form 10-Q for the quarter ended September 30, 2003.

Note: Financial schedules attached