JDSU reported net revenue for its first quarter of fiscal 2007 of $318.1 million and GAAP net loss was $(17.4) million, or $(0.08) per share. This compares to net revenue of $318.2 million and GAAP net loss of $(45.8) million, or $(0.22) per share, reported for the fourth quarter of fiscal 2006, and to net revenue of $258.3 million and a GAAP net loss of $(67.0) million, or $(0.34) per share, for the first quarter of fiscal 2006. Fiscal 2006 first quarter results reflect a partial quarter contribution from the Communications Test and Measurement business acquired in August 2005.
“The achievement of positive earnings per share on a non-GAAP basis for the first time in more than five years marks another significant milestone on the company’s journey to sustained profitability,” said Kevin Kennedy, JDSU’s Chief Executive Officer.
Some highlights:
- Optical Communications net revenue grew 3.8% from the previous quarter, and 37.3% from the same quarter a year ago. Net revenue of $138.0 million represented 43% of total net revenue.
- Communications Test and Measurement net revenue of $116.8 million was down 7.5% from last quarter and represented 37% of total net revenue.
- Advanced Optical Technologies net revenue of $39.3 million was up 7.1% from last quarter, and down 10.9% from the same quarter a year ago. This segment represented 12% of total net revenue.
- Americas’ customers represented 56.9% of net revenue. European and
Asia-Pacific customers represented 25.6% and 17.5% of net revenue,
respectively. - GAAP gross margin was 30.8% of net revenue, and non-GAAP gross margin was 34.7% of net revenue.
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