Tuesday, October 30, 2012

JDSU Sees Cautious Spending by Service Providers

JDSU reported revenues of $420.9 million and a GAAP net loss was $(11.6) million, or $(0.05) per share for its fiscal 2013 first quarter ended September 29, 2012. Prior quarter net revenue was $434.0 million, with a net loss of $(22.2) million, or $(0.10) per share.

Net revenue for the fiscal 2012 first quarter was $415.8 million, with a net loss of $(5.8) million, or (0.03) per share.

The Communications Test and Measurement division accounts for 40% of revenues, while the Communications and Commercial Optical Products division accounts for 46%, and the Optical Security and Performance Products division accounts for the remaining 14%.

"Our solid fiscal Q1 results reflect JDSU’s ability to deliver to its commitments even during periods of economic uncertainty,” said Tom Waechter, JDSU’s President and Chief Executive Officer.

 "Communications service providers continue to spend cautiously due to macro-economic and geo-political concerns. Because of this uncertain climate, we are not projecting the calendar year-end budget release that frequently occurs in the Telecom industry. Looking forward, we are encouraged by the relentless broadband demand that remains a powerful driver for JDSU’s core business. Our ability to differentiate through product innovation, evolve our variable cost model, and maintain a robust balance sheet means that we are well positioned to capitalize on future growth opportunities as the gap closes between demand and actual spending by our core network customers."

http://www.jdsu.com

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