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6 June 2008


Optium grows 12% sequentially to record $45m revenue

For its fiscal third-quarter 2008 (ended 3 May), Optium Corp of Horsham, PA, USA, which designs and manufactures optical subsystems supporting core to the edge applications, has reported record revenue of $45m. This is up 30.3% on $34.5m a year ago and 11.7% on last quarter’s record $40.3m, driven by sequential growth across all product lines: 10Gb/s and 40Gb/s, wavelength-selectable switch (WSS) reconfigurable optical add/drop multiplexer (ROADM), and analog & cable TV.

Revenues grew sequentially by 29.5% for 40Gb/s products and by 44% for ROADM products, collectively rising to 24% of revenues (up from 18% last quarter and just 3% a year ago).

“Our third quarter results reflect the benefits accruing from solid execution of the growth initiatives we have focused on for fiscal 2008, including customer diversification and expanding our product portfolio and production capacity to address high-growth segments of the optical communications market,” says chairman and CEO Eitan Gertel. “We passed our WSS ROADM capacity target of 1000 units per quarter while continuing to expand our breadth of ROADM offerings, such as our high-resolution 50GHz ROADM platform. We continue to expand overall WSS ROADM capacity,” he adds. “In 40Gb/s, we took advantage of being first to market with volumes of our DPSK 300-pin module for line-side applications, with total 40Gb/s revenues reaching 5% of revenues in the quarter.”

Net loss was $0.7m, compared to $0.8m last quarter and income of $3.4m a year ago. This is due mainly to operational expenditures related to the accelerated ramp of 40Gb/s and ROADM product lines and production capacity in anticipation of future sales (incurring duplicate leasing costs after an early move to a new facility in the US, as well as a new lease for relocating its Australian facility later this year), higher levels of stock-based compensation, as well as $614,000 of expenses related to the proposed merger transaction with Finisar Corp of Sunnyvale, CA, USA (announced in mid-May).

For its fiscal fourth quarter, Optium expects revenue of $47-49m, driven by continued execution and solid growth trends in the optical communications sector. “In addition, with a significant portion of our new product line investments well underway, we are more focused than ever on demonstrating continued improvement in profitability,” says Gertel.

“We will also be working diligently toward regulatory and shareholder approval of our proposed combination with Finisar Corp through an all-stock merger. We currently anticipate closing the transaction during the third calendar quarter,” concludes Gertel.

See related items:

Finisar and Optium agree to merge

Optium’s record revenues of $40.3m driven by 40Gb/s and ROADMs

Search: Optium ROADM

Visit: www.optium.com