News Article
Oclaro revenues below original guidance
The lower than anticipated revenues are partly due to challenging market conditions in the segments of the optical communications space that Oclaro serves
Oclaro, Inc., a provider of optical components, modules and subsystems, has announced preliminary revenues of approximately $149 million in its first fiscal quarter ending September 29th 2012.
This is less than the low end of its guidance of $154 million, previously issued on July 31st, 2012.
On July 23rd, 2012 the Oclaro/Opnext merger closed. The first fiscal quarter includes revenues from the former Opnext subsequent to the close of the merger.
The lower than expected revenues in the first quarter of fiscal 2013 are partly due to challenging market conditions in the segments of the optical communications space that Oclaro serves.
Also, slower than expected recovery of customer share of certain products to pre-flood levels, including certain data communications products were to blame.
Finally, the company saw slower than expected ramp of new products, in particular certain customer-qualified new 40G and 100G products.
"We are disappointed that the revenues for the first quarter of our 2013 fiscal year are below guidance," says Alain Couder, Chairman and CEO of Oclaro. "Following the merger, our integration activities are on track to execute our synergies, and our customer relationships are strong. We expect these factors to strengthen our future performance and expect revenues to be up in the December quarter."
Oclaro cautions that its anticipated revenue results are preliminary and based on the best information currently available. The results are subject to completion of the financial statements for the first quarter of fiscal 2013.
Oclaro is a provider of lasers and optical components, modules and subsystems for the optical communications, industrial and consumer laser markets. The company concentrates on photonics innovation, with research and development (R&D) and chip fabrication facilities in the U.S., U.K., Italy, Switzerland, Israel, Korea and Japan.
This is less than the low end of its guidance of $154 million, previously issued on July 31st, 2012.
On July 23rd, 2012 the Oclaro/Opnext merger closed. The first fiscal quarter includes revenues from the former Opnext subsequent to the close of the merger.
The lower than expected revenues in the first quarter of fiscal 2013 are partly due to challenging market conditions in the segments of the optical communications space that Oclaro serves.
Also, slower than expected recovery of customer share of certain products to pre-flood levels, including certain data communications products were to blame.
Finally, the company saw slower than expected ramp of new products, in particular certain customer-qualified new 40G and 100G products.
"We are disappointed that the revenues for the first quarter of our 2013 fiscal year are below guidance," says Alain Couder, Chairman and CEO of Oclaro. "Following the merger, our integration activities are on track to execute our synergies, and our customer relationships are strong. We expect these factors to strengthen our future performance and expect revenues to be up in the December quarter."
Oclaro cautions that its anticipated revenue results are preliminary and based on the best information currently available. The results are subject to completion of the financial statements for the first quarter of fiscal 2013.
Oclaro is a provider of lasers and optical components, modules and subsystems for the optical communications, industrial and consumer laser markets. The company concentrates on photonics innovation, with research and development (R&D) and chip fabrication facilities in the U.S., U.K., Italy, Switzerland, Israel, Korea and Japan.
