JDSU swings to profit in second quarter

Feb. 4, 2011

Milpitas, CA–JDSU (NASDAQ: JDSU; and TSX: JDU) swung to a profit and reported record revenues its second fiscal quarter ended January 1, 2011. Net income was $23.6 million, or 10 cents a share, compared with a loss of $19.5 million, or 9 cents a share, for the year-earlier period. Revenue was $473.5 million, up from $342.9 million.

Stephen G. Anderson

Milpitas, CA–Optical communications and commercial optical products manufacturer, JDSU (NASDAQ: JDSU; and TSX: JDU) swung to a profit and reported record revenues its second fiscal quarter ended January 1, 2011. Net income was $23.6 million, or 10 cents a share, compared with a loss of $19.5 million, or 9 cents a share, for the year-earlier period. Revenue was $473.5 million, up from $342.9 million.

JDSU's results beat analsts' expectations and pushed the company's stock to its highest point in four years--its stick has more than doubled in the past year.

“In fiscal Q2 JDSU reported record revenues, gross margin and operating margin, which exceeded our operating model target,” stated Tom Waechter, JDSU’s President and Chief Executive Officer. “This is an exciting time for JDSU. Our market drivers are strong, our innovation engine and pipeline for new products is robust, and we continue to increase our operating leverage.”

For the current quarter, the company said it expects revenue in the range of $400 million to $460 million.

Source: JDSU

About the Author

Stephen G. Anderson | Director, Industry Development - SPIE

Stephen Anderson is a photonics industry expert with an international background and has been actively involved with lasers and photonics for more than 30 years. As Director, Industry Development at SPIE – The international society for optics and photonics – he is responsible for tracking the photonics industry markets and technology to help define long-term strategy, while also facilitating development of SPIE’s industry activities. Before joining SPIE, Anderson was Associate Publisher and Editor in Chief of Laser Focus World and chaired the Lasers & Photonics Marketplace Seminar. Anderson also co-founded the BioOptics World brand. Anderson holds a chemistry degree from the University of York and an Executive MBA from Golden Gate University.