Telecoms ♦ news digest
pipeline while certain telecom customers have experienced a short-term inventory correction,” said Alain Couder, president and CEO of Oclaro.
“We expect the slowdown to continue through our upcoming fiscal fourth quarter. Our planned new products are expected to provide revenue growth and gross margin traction in the second half of the calendar year. We also remain confident in the second half because of the continued strong demand for broadband in the core optical market, and the increasing reliance on optical functionality throughout the network.”
Revenues for Q3 FY 2011 were $116.6 million for the third quarter of fiscal 2011, compared to $120.3 million in the second quarter of fiscal 2011. GAAP gross margin was 25% for the third quarter of fiscal 2011, compared to 30% in the second quarter of fiscal 2011.
GAAP operating loss was $6.2 million for the third quarter of fiscal 2011, compared to GAAP operating income of $1.6 million in the second quarter of fiscal 2011.
Adjusted EBITDA was $1.1 million for the third quarter of fiscal 2011, compared to $10.1 million in the second quarter of fiscal 2011. GAAP net loss for the third quarter of fiscal 2011 was $9.4 million, compared to net loss of $0.2 million in the second quarter of fiscal 2011.
Cash, cash equivalents and restricted cash were $75.7 million as of April 2, 2011 compared to $78.1 million as of January 2, 2011.
For the fourth quarter of fiscal 2011, which ends July 2, 2011, Oclaro expects revenues in the range of $105 million to $115 million and adjusted EBITDA in the range of negative $6.5 million to negative $1.5 million.
Oclaro held a conference call to discuss financial results for the third quarter of fiscal 2011. The replay may be accessed by dialling (858) 384-5517
The passcode for the replay is 4429507. A webcast of this call will also be available in the investors section of Oclaro’s website at
www.oclaro.com .
GAAP net loss for the first quarter of 2011 was $10.7 million, or ($0.16) per share. As of April 2, 2011, cash, cash equivalents and short and long- term marketable securities totalled $104 million.
Outlook for the Second Quarter 2011
Shipments to our largest North American wireless customer will decrease during the second quarter resulting in an expected sequential decrease in Wireless net sales of approximately 25% to 30%. While Broadband net sales are expected to increase sequentially by approximately 35%, it will not be sufficient to offset the decline in Wireless sales.
As such, total Company net sales for the second quarter of 2011 are expected to decrease sequentially by approximately 15% - 19% to a range of $35 - $37 million from the first quarter revenue of $43.5 million. Net loss on a GAAP basis for the second quarter is expected to be approximately ($0.22) to ($0.23) per share, which includes a restructuring charge of $0.02 per share.
“The decrease in net sales at our largest customer is the result of programs reaching end of life and
October 2011
www.compoundsemiconductor.net 105
Anadigics revenues slide to $43.5 million
While Broadband net sales in the next quarter are expected to increase sequentially by approximately 35%, it will not be sufficient to offset the decline in Wireless sales which are expected to sequentially decrease by 25 to 30%.
Anadigics, a provider of semiconductor solutions in the broadband wireless and wireline communications markets, reported first quarter 2011 net sales of $43.5 million which were flat to the same year ago period and down 27.8% from the prior quarter.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180 |
Page 181 |
Page 182 |
Page 183 |
Page 184 |
Page 185 |
Page 186 |
Page 187 |
Page 188 |
Page 189 |
Page 190 |
Page 191 |
Page 192 |
Page 193 |
Page 194 |
Page 195 |
Page 196 |
Page 197 |
Page 198 |
Page 199 |
Page 200