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Oclaro Reports Positive Adjusted EBITDA in First Post-Merger Quarter
Date:7/23/2009

ses and non-GAAP operating margin, (ii) financial guidance for the fiscal quarter ending September 26, 2009, including guidance regarding revenue, non-GAAP gross margin and adjusted EBITDA and revenue outlook for the remainder of 2009, (iii) the impact of the acquisition of Avanex Corporation and the Spectra-Physics asset swap on the combined entity's gross margin, (iv) sources for improvement of gross margin and operating expenses, including supply chain synergies, optimizing mix of product offerings, transition to higher margin product offerings, benefits of combined R&D and sales organizations and single public company costs, (v) the expected first year financial opportunities, including becoming profitable in 12 months, obtaining quarterly operating cash breakeven (non-GAAP) by end of first year, expected synergies per quarter by end of the fourth full quarter after close of the merger with Avanex Corporation and restructuring costs, (vi) opportunities to grow in adjacent markets and (vii) statements containing the words "target," "believe," "plan," "anticipate," "expect," "estimate," "will," "should," "ongoing," and similar expressions. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including the impact of continued uncertainty in world financial markets and the resulting reduction in demand for our products, the future performance of Oclaro, Inc. following the closing of the merger with Avanex Corporation and the Spectra-Physics asset swap, the inability to realize the expected benefits and synergies as a result of the of the merger with Avanex Corporation and the Spectra-Physics asset swap, increased costs related to downsizing and compliance with regulatory compliance in connection with such downsizing, the lack of availability of credit or opportunity for equity based financing, as well as the factors described in Oclaro's most recent regis
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