JDSU reported net revenue of $361.7 million and a net loss was $(14.2) million, or $(0.07) per share, for its third fiscal quarter. This compares to net revenue of $366.3 million and net income of $23.2 million, or $0.10 per diluted share, reported for the second quarter of fiscal 2007, which included a $28 million gain on sale of investments. Net revenue for the third quarter of fiscal 2006 was $314.9 million with net income of $3.7 million, or $0.02 per diluted share.
The company trimmed guidance for the current quarter, saying it expects non-GAAP net revenue for the fourth quarter of fiscal 2007, ending June 30, 2007, to be in the range of $325 to $345 million.
“In terms of revenue, JDSU’s third quarter was stronger than expected, with a much smaller than anticipated seasonal decline, and year-over-year growth of 15%,” said Kevin Kennedy, JDSU’s Chief Executive Officer. “For the first time in more than five years, we achieved positive free cash flow, and we remain committed to focused execution of our profitability improvement programs.”
Some highlights:
- Communications Test and Measurement non-GAAP net revenue of $162.9 million was down 3% from last quarter, and up 28% from the same quarter a year ago. This segment represented 45% of total revenue.
- Optical Communications non-GAAP net revenue of $128.7 million was down 3% from last quarter, and up 1% from the same quarter a year ago, representing 36% of total net revenue.
- Advanced Optical Technologies non-GAAP net revenue of $45.6 million was up 13% from last quarter, and up 12% from the same quarter a year ago. This segment represented 12% of total net revenue.
- Reported under the heading of ‘All Other,’ the Commercial Lasers business reported non-GAAP net revenue of $24.6 million, down 2% sequentially and up 19% from the same quarter a year ago, representing 7% of total net revenue.
- Americas’ customers represented 54% of net revenue. European and Asia- Pacific customers represented 27% and 19% of net revenue, respectively.
http://www.jdsu.com
