Lasers ♦ news digest Lasers Thailand floods still creating
havoc with Oclaro revenues The laser manufacturer expects a fair increase in revenues next quarter though. The firm believes revenues to be in the range of $100-$109 million in Q4 FY 2012, which ends June 30, 2012
Oclaro, a provider and innovator of optical communications and laser products, has announced financial results for its third quarter of fiscal year 2012, which ended March 31, 2012.
of December. The balance at March 31, 2012 included an additional $6 million drawn in the quarter under the Company’s $45 million credit facility, for a total outstanding balance of $25.5 million drawn at March 31, 2012.
“This quarter demonstrates our continued progress across all of our strategic initiatives and in our Thailand flood recovery, which is largely behind us,” says Alain Couder, chairman and CEO of Oclaro. “We successfully announced our relationship with Venture and will transition to an outsourced back-end assembly and test model over the next three years. We announced plans to merge with Opnext, which will put us in the #2 position in optical components and modules market. Despite lower-than-forecasted revenues resulting from a short-term work stoppage in our China factory, progress with our cost- reduction and margin improvement initiatives enabled Oclaro to achieve gross margin and Adjusted EBITDA within the guidance ranges we provided on January 26, 2012.” Oclaro expects revenues in the range of $100 million to $109 million for the fourth quarter of fiscal 2012, which ends June 30, 2012. This guidance is based on current expectations, including the impact of Oclaro’s operations and financial conditions attributable to the flooding in Thailand. In addition, the foregoing guidance is based on Oclaro’s performance as a standalone company and does not include any of the operating results of Opnext
Laser development to commence at Changchun
Revenues were $88.7 million for Q3 FY 2012, compared with revenues of $86.5 million in Q3 FY 2012 and $115.7 million in Q3 FY 2011. Like the previous quarter, revenues and operating results for the last quarter were impacted by the flooding in Thailand. Revenues for Q3 FY 2012 were also adversely impacted by approximately $4 million by a short-term work stoppage in Shenzhen, which has since been resolved. All results described below use GAAP principles. Gross profit for Q3 FY 2012 was $13.7 million, slightly higher than the previous quarter where it was $10.9 million, but more than half of the gross profit achieved the same quarter last year, where $28.4 million was recorded. Gross margin was 15% for the third quarter of fiscal 2012, compared with a gross margin of 13% in the second quarter of fiscal 2012 and 25% in the third quarter of fiscal 2011. Operating loss was $15.9 million for the third quarter of fiscal 2012, which included $3.3 million of flood-related income from insurance advances, net of additional write-offs and expenses, due to the flooding in Thailand, compared with a GAAP operating loss of $33.6 million in the second quarter of fiscal 2012, which included $9.1 million of flood-related write-offs and expenses. Operating loss in Q3 FY 2011 was $6.6 million. Net loss for the third quarter of fiscal 2012 was $17.2 million, which included $3.3 million of flood- related income from insurance advances, net of additional write-offs and expenses, due to the flooding in Thailand, compared with a net loss of $30.8 million in the second quarter of fiscal 2012, which included $9.1 million of flood-related write- offs and expenses. Net loss was $9.8 million in Q3 FY 2011. Cash, cash equivalents and restricted cash were $51.1 million as of March 31, 2012, compared with $54.2 million at the end
with the help of Aixtron The MOCVD reactor will be used to develop aluminium indium gallium arsenide and gallium indium arsenide phosphide advanced lasers
Aixtron SE has an order for a new MOCVD system from new customer, Changchun University of Science and Technology (CUST) in China. CUST has placed a contract for one Aixtron multi-wafer MOCVD reactor which will be dedicated to the growth of quaternary materials for laser diodes. The order was placed in the fourth quarter of 2011, and delivery will take place in the third quarter of 2012. Aixtron´s local support team will install and commission the new reactor in a state-of-the-art cleanroom facility at CUST in Changchun, Jilin province, China. Liu, Director of epitaxy facilities at CUST, comments, “Aixtron MOCVD systems have a very high reputation worldwide for the development and production of compound semiconductor materials. We received excellent reports of these capabilities from our colleagues at the Changchun Institute of Optics, Fine Mechanics and Physics (CIOMP) at the Chinese Academy of Sciences (CAS), who have successfully demonstrated a similar application using Aixtron equipment.” “Our team therefore considers the reactor to be a suitable choice for the development of our InGaAlAs and InGaAsP materials systems, which will form an excellent process technology foundation for the fabrication of advanced lasers. Aixtron technology also comes with a responsive local service team, and this will help to ensure smooth and efficient progress when we begin materials development using the new system,” he concludes. Founded in 1958 by the Chinese Academy of Sciences, Changchun
April/May 2012
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