Avanex announces a leap in revenues
The revenue figure was $12.6 million over the company s revenues of $5.5 million in the prior quarter ended June 30. The company reported a net loss of $27.9 million, or $0.26 per share, for the September quarter, compared to a net loss of $6.6 million, or $0.10 per share, for the previous quarter, and a net loss of $70.0 million, or $1.04 per share, for the quarter ended September 30, 2002.
During the September quarter Avanex concluded the purchase of the optical components division of Alcatel, certain assets of the photonics business of Corning, and the purchase of certain assets of the optical systems division of Vitesse Semiconductor.
“We are seeing the initial signs of our success in the integration of these businesses,” said Walter Alessandrini, chairman, president and CEO of Avanex. “For example, we successfully implemented a worldwide sales and marketing structure that is aligned with the needs of our customers, and customer response from this initiative has been very positive.”
Avanex also reconfirmed that it expects December quarter revenues to be about $25 million.
