Product category:
Optical Transceivers, Transponders and Repeaters
News Release from: Finisar Corp
Edited by the Electronicstalk Editorial
Team on 13 December 2004
All-time record revenues for Finisar
Finisar Corp has reported financial results for its second quarter ended 31st October 2004.
Finisar Corp has reported financial results for its second quarter ended 31st October 2004 Total revenues in the second quarter of fiscal 2005 of $71.0 million were up 15% on a sequential basis from $61.9 million in the first quarter and 66% from $42.8 million in the second quarter of the prior year and represented an all time record for the company
This article was originally published on Electronicstalk on 13 Nov 2007 at 8.00am (UK)
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Total revenues from the sale of optical subsystems of $59.9 million in the second quarter were up 11% on a sequential basis from $53.8 million in the first quarter and 65% from $36.4 million in the second quarter of the prior year.
Sales of network test and monitoring systems of $11.1 million in the first quarter were up 37% on a sequential basis from $8.1 million in the first quarter and up 76% from $6.3 million in the second quarter of the prior year.
Network test and monitoring revenues in the second quarter of fiscal 2005 included approximately $3.0 million in sales of products from a product line acquired from Data Transit Corp during the quarter.
Further reading
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Finisar's angled receptacle isolators provide an efficient, cost-effective means to protect laser components from unwanted back-reflections.
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"I think our employees should take great pride in our progress at the top line", said Jerry Rawls, Finisar's President and CEO.
"It speaks to our dedication to making our customers successful with leading edge products and customer service that exceeds expectations".
"And, while it is gratifying to set records, even more important is the progress we are making at the bottom line".
"Gross margins are up sequentially, our losses have been reduced, and we are close to reaching our interim goal of EBITDA breakeven".
The company reported a net loss of $23.0 million, or $0.10 per share, for the second quarter of fiscal 2005, compared to a net loss of $22.1 million, or $0.10 per share, in the first quarter and a net loss of $32.6 million, or $0.15 per share, in the second quarter of fiscal 2004.
The company does not intend to recognise any further tax benefits until it returns to profitability.
The company's operating results include a number of non-cash and cash charges, principally related to acquisitions, financing transactions and the effect of the adoption of new accounting pronouncements.
Excluding these items, the company's net loss for the second quarter of fiscal 2005 would have been $10.9 million, or $.05 per share, compared to $14.3 million, or $.06 per share, in the first quarter and $13.4 million, or $.06 per share, in the second quarter of the prior year.
Excluding these items, the company's gross margins would have been $20.0 million, or 28.2% of revenues in the second quarter, compared with 26.1% in the first quarter and 22.7% in the second quarter of the prior year.
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