news digest ♦ Telecoms
included a tax benefit of $34.9 million related to a release of deferred tax valuation allowance for a foreign jurisdiction. The Company determined during the quarter that it is more likely than not such deferred tax assets will be realised.
“In fiscal Q3 JDSU reported strong financial results with year over year operating income growth of nearly 150%, as our strategy to operate as a diversified technology company provides the ability to navigate fluctuations that may occur in any one business segment and continues to positively differentiate JDSU’s performance,” said Tom Waechter, JDSU’s President and Chief Executive Officer. “We benefited again this quarter from the strong mix of new products as the result of our collaborative innovation initiative evidenced by market share gains in our optical communications and test and measurement businesses.”
Business Outlook
For the fourth quarter of fiscal 2011, ending July 2, 2011, the Company expects non-GAAP net revenue to be in the range of $455 to $475 million.
JDSU discussed these results and other related matters in a live webcast which is archived for replay on the company’s website at
www.jdsu.com/ investors.
Quarterly results are rosy for Hittite
With an increase in quarterly revenues, profits and incomes over the same quarter last year, Hittite has not suffered like other RF electronics and Telecoms manufacturers.
Hittite Microwave Corporation has reported revenue for the first quarter ended March 31, 2011 of $67.2 million, representing an increase of 24.1% compared with $54.2 million for the first quarter of 2010.
For the first quarter of 2011, revenue from customers in the United States was $30.0 million, or 44.6% of the company’s total revenue, and revenue from customers outside the United States was $37.2 million, or 55.4% of total revenue.
Gross margin was 73.0% for the first quarter of 2011, compared with 73.4% for the first quarter of 2010 and 74.5% for the fourth quarter of 2010. Operating income for the first quarter was $31.2 million, or 46.4% of revenue. Total cash and cash equivalents at March 31, 2011 was $311.8 million, an increase of $16.3 million for the quarter.
The company expects revenue for the second quarter ending June 30, 2011 to be in the range of $67.5 million to $69.5 million and net income to be in the range of $19.8 million to $20.6 million, or $0.64 to $0.67 per diluted share.
Oclaro and JDSU must be patient
Revenue growth in the optical component industries may take some time according to the latest Bedford Report.
It is now the heart of earnings season and investors are feverishly following results from the Optical Components Industry. Shares of companies in the
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www.compoundsemiconductor.net October 2011
This is also an increase of 2.5% compared with $65.6 million for the fourth quarter of 2010. Net income for the quarter was $20.2 million, or $0.66 per diluted share, an increase of 25.2% compared with $16.1 million, or $0.54 per diluted share, for the first quarter of 2010, and a decrease of 3.5% compared with $20.9 million, or $0.69 per diluted share, for the fourth quarter of 2010.
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