Milpitas, CA – JDSU (NASDAQ: JDSU; and TSX: JDU) today reported results for its third fiscal quarter ended April 3, 2010. Net revenue for the third fiscal quarter was $332.3 million and the net loss was $11.9 million, or $0.05 per share. This compares to net revenue of $342.9 million and a net loss of $19.5 million or $0.09 per share for the prior quarter, and net revenue of $279.1 million and a net loss of $101.7 million or $0.47 per share for the third fiscal quarter of 2009.
On a non-GAAP basis, net revenue for the third quarter was $332.9 million and net income for the quarter was $23.2 million or $0.10 per share. This compares to non-GAAP net revenue of $343.8 million and net income of $26.6 million or $0.12 per share for the prior quarter, and non-GAAP net revenue of $279.2 million and net loss of $(5.4) million or $(0.03) per share for the third fiscal quarter of 2009.According to the company its Communications and Commercial Optical Products revenue of $128.6 million increased 14% compared to the prior quarter and increased 28% compared to the third quarter of fiscal 2009. Revenue from this segment represented 39% of total net revenue. Optical Communications revenue of $109.9 million increased 15% compared to the prior quarter and increased 23% compared to the third quarter of fiscal 2009. Commercial Lasers revenue of $18.7 million increased 12% compared to the prior quarter and increased 63% compared to the third quarter of fiscal 2009. For its Lasers business the company reported strength predominately in its solid-state lasers. Geographically, it saw significant growth in Japan, as the region accounted for 35% of revenue in the third quarter. Recovery continues in tier one customers and JDSU is starting to see recovery in tier 2 customers as the LED market strengthens. Completion of the major lean initiatives in Lasers produced an 8 percentage point improvement as Lasers gross margins increased to 41.3%.“We began the calendar year with the highest quarterly bookings JDSU has reported in the last two years, with each of our businesses achieving a book-to-bill of greater than one in the quarter,” Tom Waechter, JDSU’s President and Chief Executive Officer said in a press release. “The combination of the recovery in our markets, and our innovation and new product offerings are driving the strength of our customer demand.” For more information, please visit: www.jdsu.comPosted by Steve Andersonwww.laserfocusworld.com
On a non-GAAP basis, net revenue for the third quarter was $332.9 million and net income for the quarter was $23.2 million or $0.10 per share. This compares to non-GAAP net revenue of $343.8 million and net income of $26.6 million or $0.12 per share for the prior quarter, and non-GAAP net revenue of $279.2 million and net loss of $(5.4) million or $(0.03) per share for the third fiscal quarter of 2009.According to the company its Communications and Commercial Optical Products revenue of $128.6 million increased 14% compared to the prior quarter and increased 28% compared to the third quarter of fiscal 2009. Revenue from this segment represented 39% of total net revenue. Optical Communications revenue of $109.9 million increased 15% compared to the prior quarter and increased 23% compared to the third quarter of fiscal 2009. Commercial Lasers revenue of $18.7 million increased 12% compared to the prior quarter and increased 63% compared to the third quarter of fiscal 2009. For its Lasers business the company reported strength predominately in its solid-state lasers. Geographically, it saw significant growth in Japan, as the region accounted for 35% of revenue in the third quarter. Recovery continues in tier one customers and JDSU is starting to see recovery in tier 2 customers as the LED market strengthens. Completion of the major lean initiatives in Lasers produced an 8 percentage point improvement as Lasers gross margins increased to 41.3%.“We began the calendar year with the highest quarterly bookings JDSU has reported in the last two years, with each of our businesses achieving a book-to-bill of greater than one in the quarter,” Tom Waechter, JDSU’s President and Chief Executive Officer said in a press release. “The combination of the recovery in our markets, and our innovation and new product offerings are driving the strength of our customer demand.” For more information, please visit: www.jdsu.comPosted by Steve Andersonwww.laserfocusworld.com
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