San Jose, CA—Oct. 28, 2003—Symmetricom, Inc. (Nasdaq: SYMM), a leading worldwide supplier of atomic clocks and network synchronization and timing solutions, today reported results for its fiscal first quarter ended September 30, 2003.

Fiscal first quarter net sales were $38.5 million, an increase of $1.6 million or 4.2% over prior quarter net sales of $36.9 million. Net sales for the first fiscal quarter a year ago were $18.3 million. Prior year net sales did not include results for Datum and TrueTime, which were both acquired in October 2002.

The net loss from continuing operations for the fiscal first quarter was $2.3 million, or $(0.05) per share. The net loss includes integration and restructuring charges of $0.6 million or $(0.01) per share.

The net loss from continuing operations for the prior quarter was $6.5 million, or $(0.15) per share. The net loss included integration and restructuring costs of $3.0 million or $(0.07) per share related to the consolidation of Datum and TrueTime operations and the consolidation of the Broadband Network Division into the Telecom Solutions Division.

The net loss for the same quarter a year ago was $3.1 million, or $(0.14) per share. The prior year did not include results for Datum and TrueTime, which were both acquired in October 2002.

"We made significant progress in the quarter," said Thomas Steipp, chief executive officer of Symmetricom.

"Bookings were strong, we accelerated completion of the Irvine/Beverly consolidation into the second quarter and we improved inventory turns and DSO. Our overall operating expenses continued their downward trend in the quarter, although they are not yet at targeted levels. We expect that further reductions in the second quarter will bring them into alignment with our targets in the third quarter."

"In addition, the consolidation of the Irvine, CA facility into our Beverly, MA facility is expected to generate significant improvement in gross margins. These actions position us for improving operational profitability over the remainder of the fiscal year," said Mr. Steipp.

Outlook for Q2 FY04
Symmetricom expects fiscal second quarter FY04 revenues to be within a range of $37 million to $42 million. The company will take a charge of $3.8 million or ($0.09) per share in the second quarter principally for the consolidation and closure of the Irvine manufacturing plant acquired with the acquisition of Datum. Including this charge, Symmetricom expects a fiscal second quarter loss in the range of $0.06 to $0.11 per share.

Investor Conference Call
As previously announced, management will hold a conference call to discuss these results today, October 28, 2003 at 1:30 p.m. Pacific Time. Those wishing to join should dial 773-756-4600, 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 800-873-2041.

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 declines in operating expenses, the expectation that Symmetricom will be operationally profitable in the future, timing of plant consolidations, and estimates of future revenue and net loss. 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, labor strikes at major customers, 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, expected operating synergies from the consolidation of the Irvine facility into the Beverly facility are not realized, 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.

Note: Financial schedules attached