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3 May 2007


JDSU’s fiber revenues flat amid forecast of decline

For its fiscal third-quarter 2007 (to end-March), JDSU of Milpitas, CA, USA has reported revenue of $361.7m (54% from the Americas; 27% from Europe; 19% from Asia-Pacific). This is down slightly from $366.3m last quarter but up from $314.9m a year ago. “The third quarter was stronger than expected, with a much smaller-than-anticipated seasonal decline, and year-over-year growth of 15%," says CEO Kevin Kennedy.

Optical Communications revenue was $128.7m (36% of total revenue), down 3% from last quarter but up just 1% on a year ago. Communications Test and Measurement revenue was $162.9m (45%), also down 3% from last quarter but up 28% on a year ago. Advanced Optical Technologies revenue was $45.6m (12%), up 13% from last quarter and 12% on a year ago. For ‘all other’ business (including Commercial Lasers) revenue was $24.6m (7%), down 2% sequentially but up 19% on a year ago.

Net loss was $14.2m, compared to net income of $23.2m (which included a $28m gain on sale of investments) last quarter and $3.7m a year ago. However, on a non-GAAP basis, JDSU had a net income of $12.3m, down from $30.0m last quarter but still an improvement from a net loss of $2.8m a year ago.

Cash, cash equivalents, short-term investments and restricted cash was $1.22bn at the end of March. “For the first time in more than five years, we achieved positive free cash flow, and we remain committed to focused execution of our profitability improvement programs,” says Kennedy.

However, for fiscal fourth-quarter 2007 (to end-June), JDSU expects revenue $325-345m (down 4.6-10% on the latest quarter).

See related items:

JDSU to acquire Picolight for VCSEL-based pluggable optical transceivers

JDSU’s five-year high in revenues exceeds preliminary estimate, driving return to profit