Oclaro reported revenues of $155.6 million for the first quarter of its fiscal 2018, compared with revenues of $149.4 million in the preceding quarter , and revenues of $135.5 million for the period a year earlier.
GAAP gross margin was 40.3% for the first quarter of fiscal 2018. GAAP operating income was $31.2 million for the first quarter of fiscal 2018. This compares with GAAP operating income of $29.9 million in the fourth quarter of fiscal 2017, and GAAP operating income of $17.9 million in the first quarter of fiscal 2017.
“The Oclaro team once again produced strong quarterly results, fueled by our CFP2-ACO and QSFP product lines. We generated sequential revenue growth and strong profitability,” said Greg Dougherty, Chief Executive Officer, Oclaro. “Our near-term visibility includes continued softness in China, compounded by a recent slowdown in data center sales. Despite our reduced outlook, we expect to remain solidly profitable for the December quarter, which would serve as a further testament to our strong financial model.”
