Product category:
Optical Transceivers, Transponders and Repeaters
News Release from: Bookham
Edited by the Electronicstalk Editorial
Team on 12 February 2004
Bookham revenues up for eighth quarter
in a row
Bookham Technology has published results for the fourth quarter and full year ended 31st December 2003.
Bookham Technology has published results for the fourth quarter and full year ended 31st December 2003 Revenues in the fourth quarter were US $40.5 million, up 9.2% sequentially from $37.1 million in the third quarter 2003, and up 75.3% on the comparable quarter in 2002
This article was originally published on Electronicstalk on 28 Feb 2008 at 8.00am (UK)
Related stories
Pump module eases DSL replacement
The multimode laser diode allows service providers to extend triple-play service delivery to fibre customers located further away from the central office or the cable head-end.
Modulator tunes lasers up to 40Gbit/s
Reduced size InP MZ platform will allow Bookham to offer 40Gbit/s products in smaller footprints compared with existing 40Gbit/s offerings employing larger optics.
In Sterling, the revenues were GBP 24.0 million, up 3.9% on the third quarter 2003, from GBP 23.1 million, and up 67.8% from GBP 14.3 million in the fourth quarter 2002.
The lower sequential increase in Sterling terms reflects the relative strength of Sterling against the US Dollar in recent months.
Nortel Networks and Marconi Communications continued to remain strong customers, representing 58% and 9% of sales, respectively.
Further reading
Tunable transponder moves to smaller format
The 2.2 x 3in footprint enables network equipment manufacturers to increase port density, placing two SFF transponders on a card where only one LFF would fit.
Bar supports laser systems
The VHB bar has a power output of 80W (up to four times the brightness of a typical 10mm bar) and measures only 3.2mm in width.
Laser diode powers pump block
Fibre-coupled laser system incorporates the latest generation of the Bookham high-power single-emitter laser diodes capable of in excess of 10W operational light output power.
Revenues from other customers (exclusive of Nortel and Marconi) represented 33% of revenues in the fourth quarter, up 18% sequentially over the third quarter of 2003 and up 40% from the first quarter 2003, continuing the progress made throughout 2003 in expanding the customer base.
Gross margin, excluding exceptionals, was positive, reaching 6.3% of revenues, representing a gross profit of GBP 1.5 million, in line with management expectations.
This was up from negative 1.5% of revenue in the third quarter of 2003 and negative 38.5% in the fourth quarter of 2002.
Under US GAAP, gross margin reached 10.7% in the quarter.
Total cash burn for the fourth quarter of 2003 was reduced by 61.1% sequentially going from GBP 22.9 million in the third quarter 2003 to GBP 8.9 million ($15.0 million) in the fourth quarter 2003, as a result of the completion of the restructuring actions undertaken in 2003.
The net loss under UK GAAP, including exceptionals, was GBP 7.1 million ($11.9 million), a reduction of 75.7% from GBP 29.2 million in the third quarter.
The net loss for the fourth quarter 2003 includes exceptional income of GBP 4.3 million.
This compares with charges of GBP 14.6 million in the third quarter 2003.
Under US GAAP, the net loss was GBP 5.5 million ($9.3 million).
Commenting on the results, Giorgio Anania, President and Chief Executive Officer, said: "During the third quarter of 2003, we essentially completed the restructuring that we embarked upon following the acquisition of Nortel Networks Optical Components in November 2002".
"As a result, the fourth quarter saw a substantial improvement in the financials of the company, with significantly reduced cash burn, reduced net loss and positive gross margins".
"At the same time, we continued to increase revenues, a trend which has now been positive for eight successive quarters".
"Most importantly for our future development, sales to customers other than Nortel and Marconi have been growing significantly, reflecting the expanding customer base of the company and the effect of design wins achieved over the last several quarters, which are now beginning to move to the volume manufacturing stage.
We also made substantial progress in the quarter with a number of key integration activities, including the integration of Ignis Optics and Cierra, and continuing planning for the integration of the proposed acquisition of New Focus".
"Looking back over 2003, we have fully met our objectives of integrating and restructuring NNOC, significantly reduced the cost base and improved the overall company financials, developed revenue stability through our relationships with Nortel Networks and Marconi, and in addition we are securing revenue growth through developing traction with new customers".
"Throughout this period we have also continued to invest heavily in new products to generate the future growth that we require and to position ourselves for a future rebound in the optical components market".
"2004 presents a continuing set of challenges, but one which we feel we shall be addressing from a position that is significantly strengthened".
• Bookham: contact details and other news
• Email this article to a colleague
• Register for the free Electronicstalk email newsletter
• Electronicstalk Home Page
Search the Pro-Talk network of sites
