Product category:
Optical Transceivers, Transponders and Repeaters
News Release from: Bookham
Edited by the Electronicstalk Editorial
Team on 02 May 2002
Bookham "pleased" with first quarter
results
Bookham Technology has revealed its results for the first quarter ended 31st March 2002.
Bookham Technology has revealed its results for the first quarter ended 31st March 2002 The results include those of Marconi's optical components business (MOC) since 1st February 2002, the closing date of the acquisition
This article was originally published on Electronicstalk on 28 Feb 2008 at 8.00am (UK)
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Revenues grew significantly in the first quarter 2002 to GBP 5.6 million ($8.0 million), up 169% sequentially from fourth quarter 2001, and down 52% from first quarter 2001.
Marconi, Nortel Networks and Fujitsu Telecom were 10% customers, representing 55, 15 and 10% of sales, respectively.
The cash burn for the quarter was GBP 22.2 million ($35.7 million) up from GBP 14.9 million ($21.8 million) in the fourth quarter 2001, reflecting the anticipated level of investment in MOC, and acquisition-related one-time costs.
The company's cash position remains strong, with GBP 162.6 million ($234.2 million) at the end of the quarter.
The acquisition and integration of MOC has proceeded very well and has received enthusiastic reactions from key customers.
Net loss for the quarter excluding one-time charges was GBP 15.9 million ($22.9 million) compared with GBP 14.1 million ($20.3 million) in fourth quarter 2001 and GBP 10.1 million ($14.5 million) in first quarter 2001.
Commenting on the results, Giorgio Anania, President and Chief Executive Officer, said: "We are pleased with our results for this quarter.
With the acquisition of MOC, we believe we now have most of the key components required for next-generation optical networks.
The company now has three disrupting technologies, each capable of significantly reducing optical component costs through integration.
Our broader product portfolio makes us more relevant to our customers as they seek to reduce the number of suppliers they use.
We have seen revenues beginning to grow again and product design-ins moving to the final stage of product qualification and look forward to beginning commercial production shortly thereafter".
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