JDSU posts a "˜solid first quarter'
JDSU today reported results for its fiscal first quarter ended September 27, 2014. Revenue was $433.6 million for GAAP income, with net loss of $(9.7) million, or $(0.04) per share. Prior quarter net revenue was $448.6 million, with net loss of $(25.4) million, or $(0.11) per share. Net revenue for fiscal first quarter 2014 was $429.0 million, with net income of $0.3 million, or $0.00 per share.
Non-GAAP net revenue was $433.6 million, with non-GAAP net income of $33.8 million or $0.14 per share. Prior quarter non-GAAP net revenue was $448.6 million, with non-GAAP net income of $34.2 million, or $0.14 per share. Non-GAAP net revenue for fiscal first quarter 2014 was $429.0 million, with non-GAAP net income of $30.2 million, or $0.13 per share.
"JDSU's strategy to diversify in non-telecom markets drove a solid first quarter as we exceeded revenue and EPS guidance and saw sequential growth in solutions for the enterprise and commercial lasers markets," said Tom Waechter, JDSU's president and CEO. "Enterprise market performance included growth in Datacom and Service Enablement, which generated an operating profit ahead of schedule."
The company remains on track for the planned separation of SpinCo and NewCo by calendar third quarter 2015.
For the second quarter of fiscal 2015 ending December 27, 2014, the company expects non-GAAP net revenue to be $445 million +/- $12 million and non-GAAP earnings per share to be $0.15 +/- $0.03.
JDSU, based in Milpitas, CA, serves the optical-networking market with a diverse range of products including lasers .