News

24 August 2009

 

Oplink goes into profit as revenue rebounds

For its fiscal 2009 (to end June), photonic component, module and subsystem maker Oplink Communications Inc of Fremont, CA, USA has reported revenue of $143.7m, down 18% on fiscal 2008’s $176.3m. However, though still down 13% on $37.3m a year ago, fourth-quarter revenue of $32.4m was up 5% on the prior quarter’s $30.8m (and slightly above the forecast $28-32m).

The 10% customers were Alcatel-Lucent (13% of revenue), Tellabs (18%) and Huawei (23%, up from 18% last quarter, as China became the strongest region while most of the Americas is still relatively weak).

Annual net loss still more than doubled from $6.8m in fiscal 2008 to $13.8m in fiscal 2009. But, compared to a net loss of $791,000 a year ago and $114,000 last quarter, fiscal Q4 yielded net income of $249,000. During fiscal Q4, cash, cash equivalents, and short- and long-term investments rose by $11.5m to $168.7m.

“Reacting to the market downturn, Oplink has successfully executed plans to enhance our competitiveness,” says president & CEO Joe Liu. “We have focused on improving our global operational efficiencies and cost structure, and we are selectively investing in next-generation platform technology upgrades,” he adds.

Oplink has continued to invest in new product capabilities, R&D facilities in China, and expanding its Zhuhai campus (to which Oplink has 90-95% completed the transfer of manufacturing from Optical Communication Products Inc of Woodland Hills, CA, USA, acquired in 2007). During the quarter, Oplink’s headcount rose from 2150 to 2260, mainly in manufacturing.

“Although order visibility is still somewhat limited, we believe that, with existing lean inventory levels at our customers, modest growth in telecommunications spending and upside potential from new design wins, we are poised to gain additional market share,” Liu concludes.

For its fiscal first-quarter 2010 (to end-September 2009), Oplink expects revenue of $30-34m.

See related items:

Oplink’s revenues fall 18%, but cost cutting maintains cash generation

Oplink’s revenues fall 12.5%

Oplink controlling costs during near-term economic concerns

Oplink’s earnings rebound as revenue falls less than expected

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