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6 September 2006


Finisar reports 12th quarter of growth

For its fiscal first-quarter (to end-July), Finisar Corp of Sunnyvale, CA, USA, which provides gigabit fiber-optic solutions for high-speed data networks, has reported its 12th consecutive quarter of revenue growth. Record revenues of $106.2m were within its guidance of $104-$110m, and up 3.7% sequentially and up 30% year-on-year. Revenues from the optical subsystems were $96m, up 4.5% sequentially and 32.7% year-on-year. Revenues from network test and monitoring systems were $10.2m, down 2.5% sequentially but up 9% year-on-year.

Net loss was $0.8m (including a charge of $2.2m and a tax provision of $2.2m), compared to $19.1m a year ago, although Finisar reported net income of $1.7m last quarter. Finisar expects to be profitable in fiscal 2007.

Chairman, president and CEO Jerry Rawls expects to continue record-setting pace at least for the remainder of this fiscal year. "Our expectations for continued growth are driven in part by the progress we are making in qualifying a range of 10Gb/s products at a number of customers. We believe sales of these products will contribute to our revenue growth in the second half of this fiscal year," Rawls says. "The richer product mix resulting from sales of these products should positively impact our gross margins and
help offset the effect of a delay in the adoption of the 8Gb/s Fibre Channel standard which was expected to provide a boost to revenues for our Network Tools business in the second half," he adds.

Visit: http://www.finisar.com