Telecoms ♦ news digest
40.3%, down from 41.2% in the second quarter of 2010 and up sequentially from 39.0%. Gross margin for the six months ended July 2, 2011, at 39.6% was consistent with the gross margin for the six months ended July 3, 2010.
Operating expenses for the second quarter of 2011 were $70.9 million, or 31% of revenue, up from $58.8 million in the second quarter of 2010 and $67.1 million in the previous quarter. Operating expenses for the six months ended July 2, 2011 were $138.0 million, up from $114.0 million for the six months ended July 3, 2010. Net income for the second quarter of 2011 was $16.6 million, or $0.10 per diluted share, up sequentially from $12.4 million or $0.07 per diluted share. Net income for the six months ended July 2, 2011 was $29.0 million or $0.17 per diluted share. Non-GAAP
Gross margin for the second quarter was 41.4%, down from 42.3% in the second quarter of 2010 and up sequentially from 40.0%. Gross margin for the six months ended July 2, 2011 and July 3, 2010 was 40.7%.
Operating expenses for the quarter were $65.6 million or 29% of revenue, including $7.5 million of litigation expense. Operating expenses for the six months ended July 2, 2011 were $128.8 million or 28% of revenue, including $12.9 million of litigation expenses.
Net income for the second quarter of 2011 was $28.9 million, or $0.17 per diluted share, up sequentially from $0.15 per diluted share and down from $0.20 in the second quarter of 2010. Net income for the six months ended July 2, 2011 was $55.0 million or $0.32 per diluted share. Please see the discussion of non-GAAP financial measures below and the attached supplemental schedule for a reconciliation of GAAP to non-GAAP financial measures. Outlook:
The Company believes third quarter revenue will be between $225 million and $235 million. Litigation expense is expected to be approximately $5 million. Third quarter non-GAAP net income is expected to be between $0.16 and $0.18 per share. The Company is 88% booked to the midpoint of revenue guidance.
NeoPhotonics Enters the Cloud
NeoPhotonics Corporation, a designer and manufacturer of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth- intensive, high speed communications networks, today announced sample availability of its first 40G transceiver module for high speed Ethernet client side applications.
The new pluggable transceiver increases the data rate per module from 10G, in the case of XFP or SFP+ transceivers, to 40G, and is designed to meet increasing bandwidth demand in today’s data centers. Compared to a traditional 10G approach, the new module transmits four times the data over single mode fiber at distances up to 10 kilometers. “We are excited to announce our first 40G client- side transceiver module for cloud and data center applications,” said Tim Jenks, Chairman and CEO of NeoPhotonics. “We have provided samples to our customers as they serve the rapidly expanding 40G Ethernet market with cost-effective pluggable solutions. The new module complements our existing broad portfolio of line side products, such as our Integrated Coherent Receiver (ICR) for 40G and 100G DWDM transport applications, and underlines our commitment to the ultra-high speed segment of the transceiver market,” concluded Mr. Jenks.
The new 40G CFP module is the latest addition to the company’s expanding high speed transceiver portfolio, which includes a range of XFP, SFP+ and 10G EPON/XG-PON1 modules plus high speed receivers for coherent applications. The new NeoPhotonics product is designed primarily to connect gigabit and terabit routers and switches with next generation high capacity transport systems. The 40G transceiver is designed to comply with the IEEE 802.3ba 40GBASE-LR4 specification and to support OTU3 rates and 44.4G for future applications. The new 40G CFP module is now available in sample quantities.
August/September 2011
www.compoundsemiconductor.net 99
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