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my $rv = sysread(FIFO, $fifodata, 64*1024, length($fifodata));

my $rv = sysread(FIFO, $fifodata, 64*1024, length($fifodata));

...
    ...extract message from $fifodata...
    ...process message...
}

while (length($fifodata) > $MSG_SIZE) {
    my $msg = substr($fifodata, 0, $MSG_SIZE, '');
    process_msg($msg);
}

while ($fifodata =~ s/^([^\n]*\n)//) {
    my $msg = $1;
    process_msg($msg);
}