Oclaro Announces 19% Growth in Annual Revenues
"In fiscal 2010 we transformed Oclaro into a tier-one supplier of optical components and subsystems through a series of strategic initiatives," said Alain Couder, Chairman and CEO of Oclaro. "In fiscal 2011 we began structuring the integrated company to scale, while accelerating our investment in new product innovation. As a result, we believe we are well positioned for growth as the telecom optical market recovers." Highlights for Fourth Quarter Fiscal 2011: Revenues were $109.2 million for the fourth quarter of fiscal 2011, compared to $115.7 million in the third quarter of fiscal 2011. Revenues in the quarter ended July 2, 2011 included initial shipments of new products including 40G coherent transponders, tunable XFP transceivers, 40G lithium niobate external modulators and an integrated ROADM line card. GAAP gross margin was 23% for the fourth quarter of fiscal 2011, compared to 25% in the third quarter of fiscal 2011. GAAP gross margin for the fourth quarter of fiscal 2011 included approximately 3% points of impact from excess and obsolete reserves and related inventory valuation charges. Non-GAAP gross margin was 23% for the fourth quarter of fiscal 2011, compared to 25% in the third quarter of fiscal 2011.
Highlights for Fiscal Year 2011:
First Quarter Fiscal 2012 Outlook The results of Oclaro, Inc. for the first quarter of fiscal 2012, which ends October 1, 2011, are expected to be:
