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are additional merger synergies related to the integration of Finisar components into legacy Optium products to be realized over the next few quarters,” said Eitan Gertel, Finisar’s Chief Executive Officer. “As a result, we believe gross margins on a non-GAAP basis can continue to improve as these new engineering designs become qualified by our customers and we realize the expected benefits of anticipated additional revenue growth along with a favorable trend in product mix.”
OUTLOOK
The Company indicated that it currently expects that revenues for its first fiscal quarter ending August 1, 2010 will likely range from $190 to $205 million. On a GAAP basis, operating margin is expected to range from 7% to 8.5%. Additional non-cash and infrequently occurring charges excluded in calculating non- GAAP operating income are expected to total approximately $5 to $7 million. As a result, on a non-GAAP basis, operating margin is expected to be in the range of 10% to 11.5%.
Highlights for the fourth quarter under GAAP:
-- Total revenues increased to $188.5 million, up $21.6 million, or 12.9%, from $166.9 million in the preceding quarter and up $81.0 million, or 75.4%, from $107.5 million in the fourth quarter of the prior year;
-- Of the $21.6 million increase in revenues from the preceding quarter, the sale of products for applications equal to or greater than 10 Gbps increased $6.6 million, or 9.8%, the sale of products for applications
less than 10 Gbps increased $8.6 million,
or 11.5%, and the sale of ROADM products increased $7.7 million, or 40.3%, while the sale of products for CATV applications decreased $1.3 million, or (23.3)%;
-- Of the $81.0 million increase in revenues from the fourth quarter of the prior year, the sale of products for applications equal to or
July 2010
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