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1 November 2007


Avanex returns to profitability

For its fiscal first-quarter 2008 (to end-September 2007), optical communications component and module maker Avanex Corp of Fremont, CA, USA has reported revenue of $54.7m, up from $51.1m last quarter and $50.9m a year ago.

Operating expenses have been cut from $18.1m last quarter to $15.4m (in line with $15.6m a year ago). Gross margin has continued to rise, from 11% a year ago and 24% last quarter to 28%. Net profit was $45,000, compared with a net loss of $5.7m last quarter and $9.7m a year ago.

“The first quarter was an outstanding quarter for the company,” says chairman, president and CEO Jo Major. “We achieved profitability, grew revenue by 7%, improved gross margins by 4 percentage points and continued to keep our operational expenses in line. Our continued financial improvements are reflective of the health of our solid operating structure and validate our strategy,” he adds. “We are positioned well for profitable growth and to take advantage of growing bandwidth demand.”

For fiscal second-quarter 2008 (to end-December 2007), Avanex expects revenue to rise further to $56-58m and gross margin to be flat to slightly up.

See related items:

Alcatel-Lucent extends supply agreement with Avanex as it sells stake to Pirelli

Avanex cuts losses despite dip in revenue

Avanex acquires Essex Corp’s Commercial Communication Products Division

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