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2 July 2019

Finisar’s quarterly revenue falls 5.3% due to drop in sales of 40G-and-lower transceivers and VCSEL arrays for 3D applications

For full-year fiscal 2019 (ended 28 April), fiber-optic communications component and subsystem maker Finisar Corp of Sunnyvale, CA, USA has reported revenue of $1280.5m, down 2.7% on fiscal 2018’s $1316.5m. In particular, Datacom product sales fell by $102.3m (9.9%), as a result of a decline in sales of 40G transceivers (due to customers switching their technology infrastructure to higher-speed transceivers) as well as lower 100G transceiver revenue (due to a decrease in the average selling prices for products). In contrast, Telecom product sales rose by $66.2m (23%), due mainly to an increase in sales of wavelength-selective switches (WSS) products.

Fiscal fourth-quarter 2019 revenue was $310.1m, down 5.3% on $327.6m last quarter but level with a year ago. Datacom product sales were down by $12.8m (5.5%) on last quarter, due mainly to a decline in sales of 40G-and-lower transceivers as well as vertical-cavity surface-emitting laser (VCSEL) arrays for 3D applications. Telecom product sales were down by $4.8m (5%) on last quarter, due mainly to a decline in sales of 10G tunable transceivers.

On a non-GAAP basis, full-year gross margin fell from 29.7% to 29.2%. However, quarterly gross margin of 30.8% is up on 30.2% last quarter and 24.7% a year ago.

Full-year operating expenses have been cut from $292.2m (22.2% of revenue) to $260.2m. This includes $64.6m in fiscal Q4, up slightly from $63.6m (19.5% of revenue) last quarter but cut from $72m a year ago.

Net income hence fell from $34.2m ($0.29 per diluted share) last quarter to $33m ($0.27 per diluted share). However, this was up from just $5.8m ($0.05 per diluted share) a year ago. Full-year net income has correspondingly risen from $100.4m ($0.86 per diluted share) to $119m ($1.00 per diluted share).

See related items:

Finisar’s quarterly revenue growth in WSS and VCSEL arrays for 3D applications offset by fall in sales of 10G-and-lower transceivers

Finisar’s quarterly revenue recovers further

II-VI to acquire Finisar for $3.2bn

Finisar’s quarterly revenue grows more than expected due to ROADM deployment in China and India

Finisar to open new 3D VCSEL production facility in Texas

Finisar’s quarterly revenue falls 6.7% due to lower demand from Chinese OEMs

Tags: Optical communications Finisar

Visit: www.finisar.com

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