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JDSU Announces GAAP Revenue of $473.5 million

Communications Test and Measurement represented the largest segment with revenues of $231.4 million which represented 48.5% of total net revenue.

JDSU has reported results for its second fiscal quarter ended January 1, 2011.

On a GAAP basis, net revenue for the second fiscal quarter of 2011 was $473.5 million and net income was $23.6 million, or $0.10 per share.  This compares to net revenue of $342.9 million and net loss of $(19.5) million, or $(0.09) per share for the second fiscal quarter of 2010. GAAP gross margin for the quarter was 45.2%.

“In fiscal Q2 JDSU reported record revenues, gross margin and operating margin, which exceeded our operating model target,” said Tom Waechter, JDSU’s President and CEO. “This is an exciting time for JDSU.  Our market drivers are strong, our innovation engine and pipeline for new products is robust, and we continue to increase our operating leverage.”

 



 

Financial Overview – Second Fiscal Quarter Ended January 1, 2011

GAAP net revenues increased 38.1% compared to the second quarter of fiscal 2010.

All numbers in the following section are unaudited non-GAAP results unless stated otherwise.

Gross margin was 48.8% compared to 44.6% in the Q2 FY 2010. Operating margin was 15.3% compared to 8.2% in the second quarter of fiscal 2010.

Communications Test and Measurement revenue of $231.4 million increased by 30.8% compared to the second quarter of fiscal 2010. Revenue from this segment represented 48.5% of total net revenue.

Communications and Commercial Optical Products revenue of $191.1 million increased 70.2% compared to Q2 FY 2010.  Revenue from this segment represented 40.0% of total net revenue.

Optical Communications revenue of $168.4 million increased 76.2% compared to the second quarter of fiscal 2010.

Commercial Lasers revenue of $22.7 million increased 35.9% compared to Q2 FY 2010.

Advanced Optical Technologies revenue of $54.7 million remained flat compared to the second quarter of fiscal 2010.  Revenue from this segment represented 11.5% of total net revenue.

Americas’ customers represented 51% of total net revenue for the quarter. EMEA and Asia-Pacific customers represented 26% and 23%, respectively, of total net revenue.

 The Company held $ 655.3 million in total cash and generated $60.7 million of cash from operations for the quarter ended January 1, 2011.

Business Outlook

For the third quarter of fiscal 2011, ending April 2, 2011, the Company expects non-GAAP net revenue to be in the range of $440 to $460 million.

The Company discussed these results on February 3, 2011 in a live webcast, which is archived for replay on the Company's website at www.jdsu.com/investors

 

              
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