Wednesday, May 3, 2017

Oclaro reports Q3 revenue of $162.18m

Oclaro reported financial results for its third quarter of fiscal year 2017, ended April 1, 2017, as follows:

1.         Revenue for the third quarter of $162.18 million, up 5.4% compared with $153.91 million for the second quarter and up 60.5% from $101.05 million for the third quarter of fiscal 2016.

2.         Gross income for the second quarter of $66.79 million, up 10.0% compared with $60.74 million for the second quarter and up 147.9% from $26.94 million for the third quarter of fiscal 2016.

3.         R&D expenditure for the third quarter of $14.48 million, up 5.2% compared with $13.76 million for the first quarter and up 27.2% from $11.38 million for the third quarter of fiscal 2016.

4.         SG&A expenditure for the third quarter of $14.74 million, up 10.4% compared with $13.35 million for the second quarter and up 12.9% from $13.05 million for the third quarter of fiscal 2016.

5.         Total operating expenditure for the third quarter of $29.05 million, up 6.2% compared with $27.36 million for the first quarter and up 18.7% from $24.48 million for the third quarter of fiscal 2016.

6.         On a GAAP basis, a net income for the third quarter of $38.21 million, compared with a net income of $30.27 million for the second quarter and a net income of $89,000 million for the third quarter of fiscal 2016.

On a non-GAAP basis, a net income for the third quarter of $39.89 million, compared with a net income of $36.29 million for the second quarter and a net income of $3.32 million for the third quarter of fiscal 2016.

7.         Cash, cash equivalents and restricted cash as of April 1, 2017 of $214.78 million, compared with $223.51 million as at December 31, 2016 and $96.64 million as at July 2, 2016.

Additional results and notes

Oclaro noted that for the third quarter 100 Gbit/s and above revenue reached $125.8 million, driven by line side and client-side products, and up 11% sequentially and up 115% year on year. For 40 Gbit/s and lower speeds, revenue decreased by $4 million, or 9%, to $36.4 million.

For the third quarter, datacom, or client-side, sales increased by 9% sequentially, driven by QSFP28 products, which continued to grow, while telecom, or line side, sales grew 3% sequentially as metro and data centre interconnect sales continued to grow.

During the quarter, Oclaro noted that 10%-plus customers represented 59% of total sales, compared to 68% in the second quarter, with the same top four customers contributing 18%, 17%, 12% and 12% of sales in the third quarter.

Reported by region, in the third quarter China accounted for 36% of total sales, down sequentially from 42%; the Americas 28%, up from 21% in the prior quarter; Southeast Asia 22%; and EMEA 12% of total sales.

Outlook


For the fourth quarter Oclaro expects revenue of between $144 and $152 million, representing a sequential decrease of 8.7% at the midpoint.

0 comments:

Post a Comment

See also