Telecoms ♦ news digest
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 sector surged in the first three months of 2011 as analysts predicted strong growth.
However, over the last month valuations have slipped following weak outlooks from many industry heavyweights. The Bedford Report examines the Optical Components Industry and provides research reports on JDS Uniphase Corporation and Oclaro.
JDS Uniphase, who saw its share price surge more than 40 % in the first quarter, is a leading provider of communications test solutions and optical products to telecom carriers, cable operators, and network equipment manufacturers. Tom Waechter, JDSU’s President and Chief Executive Officer, says this is an “exciting time” as the company’s innovation engine and pipeline for new products is robust.
JDSU is set to report fiscal third quarter earnings after market close on Wednesday. For the third
Alex Spektor, Senior Analyst at Strategy Analytics, said, “Global handset shipments grew 17 % annually to reach 350 million units in Q1 2011. Apple was a star performer during the quarter, as it shipped a record 18.6 million handsets, captured fourth place in global shipments and overtook rival ZTE.”
Neil Mawston, Director at Strategy Analytics, added, “It was a mixed quarter for the world’s major handset vendors. Some brands outperformed, such
June 2011
www.compoundsemiconductor.net 107
quarter ended April 2, 2011, the Company expects non-GAAP net revenue to be in the range of $440 to $460 million.
Last Thursday, Oclaro reported a fiscal third-quarter loss of 8 cents a share -- well below the profit of 6 cents a share analysts on average expected. Oclaro CEO Alain Couder says that he expects the slowdown to continue through the upcoming fiscal fourth quarter, but explains that planned new products “are expected to provide revenue growth and gross margin traction in the second half of the calendar year.”
Apple leapfrogs ZTE to 4th position in handset shipments
Strategy Analytics recent report says that some brands outperformed, such as Apple and ZTE, while others underperformed, such as LG and Nokia.
According to the latest research from Strategy Analytics, global handset shipments grew 17 % annually to reach 350 million units in the first quarter of 2011. Apple captured fourth place in global handset shipments, rising from sixth position a year earlier and overtaking rival ZTE.
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