Oclaro updated its outlook for the first quarter of fiscal year 2016 saying it now expects to exceed its previously provided financial guidance. The company’s financial guidance was last provided on August 4, 2015.
- Revenues to be approximately $87.5 million, at the high end of the range previously provided;
- Non-GAAP gross margin to be in a range of 26 to 27%, above the high end of the range previously provided;
- Adjusted EBITDA to be positive $4.0 to $4.5 million, above the high end of the range previously provided; and
- Cash, cash equivalents, restricted cash, and short-term investments of $107.7 million at September 26, 2015.
“The preliminary results that we are reporting today reflect strong growth in our 100G product portfolio,” said Greg Dougherty, Chief Executive Officer, Oclaro. “In addition, we saw higher than expected revenues for our 10G and 40G products, coupled with a much more favorable product mix, resulting in gross margin exceeding our prior guidance.”