Product category:
Optical Transceivers, Transponders and Repeaters
News Release from: Bookham
Edited by the Electronicstalk Editorial
Team on 07 May 2004
Bookham aims to reduce overheads
Bookham Technology has published its results for the first quarter ended 4th April 2004.
Bookham Technology has published its results for the first quarter ended 4th April 2004 Revenues in the first quarter 2004 were US $41.3 million, up 2% from fourth quarter 2003 revenues of $40.5 million and up 25% from first quarter 2003, in line with management expectations
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 22.5 million, slightly down from fourth quarter 2003 revenues of GBP 24.0 million, and up 7% from first quarter 2003.
The average US Dollar to Sterling exchange rate declined 8% from the fourth quarter 2003, again in line with management expectations.
Gross margin was negative 4% of revenues under UK GAAP, and negative 2% of revenues, under US GAAP, down from the fourth quarter 2003, but ahead of management expectations, principally due to the decline in the US Dollar relative to Sterling.
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.
Cash burn, excluding the impact of the acquisition of New Focus, was GBP 11.1 million ($20.4 million) up from GBP 8.9 million ($15.0 million) in the fourth quarter 2003, and in line with management expectations.
The net loss under UK GAAP was GBP 16.0 million ($29.4 million), an increased loss of GBP 9.0 million from the fourth quarter 2003 results which benefited from GBP 4.3 million of exceptional income compared with GBP 2.8 million in first quarter 2004.
Under US GAAP, the net loss was GBP 17.5 million ($32.1 million).
The acquisition of New Focus was completed on 8th March 2004.
The integration plans are proceeding well and all major organisational changes are now complete.
In March, the company announced the opening of an advanced manufacturing facility in Shenzhen, China.
The factory in Shenzhen, which is expected to substantially reduce the cost of assembling the company's products, was obtained through Bookham's recent acquisition of New Focus and the company has commenced staffing for this facility on a rapid timescale.
Commenting on the results, Giorgio Anania, Chief Executive Officer, said: "The major event this quarter was the completion of our acquisition of New Focus, which brings us additional revenues and new customers, a significant strengthening of our cash position and a cost-reduction route through the large assembly facility in Shenzhen, China".
"Growth in revenues to customers other than Nortel has continued, as in previous quarters, increasing 5% sequentially".
"We have started to see traction with the thin-film passive products and subsystems, through our acquisitions of Cierra Photonics and Ignis Optics in 2003".
"In addition we have commenced the first preproduction shipments of our high-power lasers into industrial markets".
"With the continuing negative impact of a weak US Dollar, we continue to move aggressively with further cost reduction initiatives in the business, including the rapid commissioning of the China manufacturing facility".
"Our intention is to reduce overhead costs by approximately 25% from current levels over the next 12 months".
• 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
