News

6 November 2006

 

JDSU's optical communications business turns operating profit

For its fiscal first-quarter 2007 (to end-September), JDSU of Milpitas, CA, USA has reported revenue of $318.1m, level on the previous quarter but up 23% on a year ago. The geographical split was: Americas 56.9%; European
25.6%; Asia-Pacific 17.5%.

Optical Communications revenue was $138m (43% of total revenue), up 3.8% on last quarter and 37.3% on a year ago, with an operating income of $2.2m compared to a loss of $16.7m a year ago. Communications Test and Measurement revenue was $116.8m (37% of the total), down 7.5% on last quarter. Advanced Optical Technologies revenue was $39.3m (12%), up 7.1% on last quarter but
down 10.9% on a year ago. Commercial Lasers business revenue was $24.1m (8%), up 6.6% sequentially and 25.5% on a year ago.

Net loss according to generally accepted accounting principals (GAAP) was cut from $67.0m a year ago and $45.8m last quarter to $17.4m. On a non-GAAP basis, net loss of $15.4m a year ago and $2.1m last quarter has turned into a net income was $6.8m. Non-GAAP EBITDA (earnings before interest, taxes, depreciation and amortization) were $9.6m, compared to $5.5m last quarter
and to a loss of $4.3m a year ago. Cash reserves are $1.2bn.

"The achievement of positive earnings per share on a non-GAAP basis for the first time in more than five years marks another significant milestone on the company's journey to sustained profitability," says CEO Kevin Kennedy.

For fiscal Q2/2007 (to end-December 2006), JDSU expects revenue of $332-352m, up by a further 4-10%.

Visit: http://www.jdsu.com