Sales at JDS Uniphase keep on falling
The company reported a GAAP loss of $215 million, or $0.15 per share, for the December 2002 quarter, compared to a GAAP loss of $521 million, or $0.37 per share, for the previous quarter. This includes approximately $92 million in restructuring charges and other costs associated with the Global Realignment Program, which has reduced the company s annual costs by approximately $1.1 billion.
"The company continues to progress in its Global Realignment Program and is pursuing an accelerated path towards break-even and onto profitability," said Jozef Straus, Co-chairman and CEO. "At the same time, we are seeing signs of stability in our communications markets."
"In addition, we continue to invest in the most promising growth opportunities across all of our optical technology markets," said Straus, referring to the acquisition of LA Label, which will add to JDSU s non-semiconductor capabilities in the security and product authentication markets.
JDSU anticipates that net sales for the March 2003 quarter will be in the range of $155 million to $165 million. The company s target is to reach an operating cash break-even point of about $200 million per quarter by the end of calendar 2003.
JDS Uniphase ends deal with Adept
Adept Technology, which manufactures automation equipment and software, has ended its supply, development and license agreement with JDS Uniphase dating from October 2001 (see related story).
The companies said the agreement was no longer in their "mutual best interests" due to changing economic and business circumstances.
