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Oclaro Announces Second Quarter Fiscal Year 2012 Financial Results
Date:1/26/2012

SAN JOSE, Calif., Jan. 26, 2012 /PRNewswire/ -- Oclaro, Inc. (NASDAQ: OCLR), a tier-one provider of innovative optical communications and laser solutions, today announced the financial results for its second quarter of fiscal year 2012, which ended December 31, 2011.  

“In the second quarter of fiscal 2012, Oclaro achieved revenue at the high end of our previous guidance range, primarily due to our recovery efforts from the recent Thailand flooding,” said Alain Couder, chairman and CEO of Oclaro. "We are pleased with our recovery progress thus far.  We expect full commercial production by the end of March for three of our five affected product lines and within the June quarter for the remaining two.  In spite of the flood, we remain focused on enabling Oclaro to emerge from this period  better positioned than before, in terms of our market position on certain existing products, recent introductions and our pipeline of new products and new technologies."

Highlights for Second Quarter Fiscal 2012:

  • Revenues were $86.5 million for the second quarter of fiscal 2012, compared to revenues of $105.8 million in the first quarter of fiscal 2012.  While above the high end of the Company’s guidance for the quarter, revenues and operating results for the quarter were materially impacted by the flood in Thailand.
  • GAAP gross margin was 13% for the second quarter of fiscal 2012, compared to a GAAP gross margin of 23% in the first quarter of fiscal 2012.
  • Non-GAAP gross margin was 13% for the second quarter of fiscal 2012, compared to a non-GAAP gross margin of 23% in the first quarter of fiscal 2012.
  • GAAP operating loss was $33.6 million for the second quarter of fiscal 2012, which included $9.1 million flood-related write-offs and expenses due to the flooding in Thailand, compared to a GAAP operat
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  • SOURCE Oclaro, Inc.
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