News Article
JDSU Reports Quarterly Revenue of $405.2 million & Breakeven EPS
The firm expects to continue growing the business as supply constraints ease in its Optical Communications and Test and Measurement businesses. It is also further investing in incremental capacity for Optical Communications.
JDSU has reported results for its first fiscal quarter ended October 2, 2010.
On a GAAP basis, net revenue for the first fiscal quarter of 2011 was $405.2 million and net income was $0.1 million, or breakeven earnings per share. This compares to net revenue of $390.9 million and net income of $1.5 million, or $0.01 per share for the prior quarter, and net revenue of $297.8 million and net loss of $(31.9) million, or $(0.15) per share for the first fiscal quarter of 2010.
“In fiscal Q1, JDSU reported its highest gross margin in five years and operating margin that was above our previously stated guidance,” said Tom Waechter, JDSU’s President and CEO. “We expect to continue growing the business as supply constraints ease in our Optical Communications and Test and Measurement businesses and we invest in incremental capacity for Optical Communications. Our balance sheet remains strong and we generated over $35 million of cash from operations during the quarter.”
For the second quarter of fiscal 2011, ending January 1, 2011, the Company expects non-GAAP net revenue to be in the range of $425 to $450 million.
Conference Call
The Company discussed these results and other related matters in a conference call yesterday.
The webcast will be archived for replay on the Company's website at www.jdsu.com/investors.
The Company has posted slides outlining its latest financial results concurrent with the earnings press release. These slides are now available on www.jdsu.com/investors under the "Financial Information" section.
JDSU enables broadband and optical innovation in the communications, commercial and consumer markets. JDSU is a leading provider of communications test and measurement solutions and optical products for telecommunications service providers, cable operators, and network equipment manufacturers.
JDSU is also a leading provider of innovative optical solutions for medical/environmental instrumentation, semiconductor processing, display, brand authentication, aerospace and defense, and decorative applications.
