5 November 2010


JDSU grows revenue despite supply and capacity constraints

On a non-GAAP basis (including revenue from the acquisition of the Network Solutions Division from Agilent Technologies Inc at the beginning of May), for its fiscal first-quarter 2011 (ended 2 October 2010) JDSU of Milpitas, CA, USA has reported revenue of $411.3m, up 3% on $398.1m last quarter and up 38% on $298.6m a year ago.











Advanced Optical Technologies revenue was $60.5m (15% of total revenue), up 11% on last quarter’s $54.6m and 12% on $54.1m a year ago. Communications Test & Measurement revenue was $182.8m (44% of total revenue), down 2% on last quarter’s $186.2m but up 27% on $143.4m a year ago.

Communications & Commercial Optical Products (CCOP) revenue was $168m (41% of total revenue), up 7% on last quarter’s $157.3m and 66% on $101.1m a year ago. CCOP operating income was $24.2m, compared with $19.1m last quarter and an operating loss of $1.5m a year ago.

Within CCOP, Commercial Lasers revenue was $25m (up 11% on last quarter’s $22.6m). Optical Communications revenue was $143m (up 6% on last quarter’s $134.7m).

Overall company gross margin has risen from 44% a year ago and 45.5% last quarter to 47.4% (the highest in five years). Operating margin has risen from 3.4% a year ago and 9.3% last quarter to 10.8% (above the guidance of 8.5–10.5%). Net income was $44.8m, up from $33.1m last quarter and just $9m a year ago.

“Our balance sheet remains strong,” says president & CEO Tom Waechter. After generating $35.7m of cash from operations, during the quarter total cash and cash equivalents and short-term investments rose from $600.1m to $620m.

“We expect to continue growing the business as supply constraints ease in our Optical Communications and Test & Measurement businesses and we invest in incremental capacity for Optical Communications,” says Waechter.

For fiscal second-quarter 2011 (ending 1 January), JDSU expects non-GAAP revenue of $425–450m (up 6% quarter-to-quarter).

See related items:

JDSU grows 20% in June quarter, despite supply and capacity constraints

JDSU grows 15% quarter-to-quarter in Optical Communications

JDSU’s margin growth focused on new products

JDSU returns to underlying profit

Search: JDSU Optical communications


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