Product category:
Stand-Alone Instruments
News Release from: JDSU
Edited by the Electronicstalk Editorial
Team on 04 May 2007
Third quarter is stronger than expected
JDSU has reported results for its fiscal 2007 third quarter ended 31st March 2007, highlighted by a net loss of US $14.2 million.
JDSU has reported results for its fiscal 2007 third quarter ended 31st March 2007 Net revenue for the third quarter was US $361.7 million and net loss was $14.2 million, or $0.07 per share
This article was originally published on Electronicstalk on 24 Oct 2005 at 8.00am (UK)
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This compares to net revenue of $366.3 million and net income of $23.2 million, or $0.10 per diluted share, reported for the second quarter of fiscal 2007, which included a $28 million gain on sale of investments.
Net revenue for the third quarter of fiscal 2006 was $314.9 million with net income of $3.7 million, or $0.02 per diluted share.
On a non-GAAP basis, revenue for the third quarter was $361.8 million and non-GAAP net income was $12.3 million, or $0.06 per diluted share.
This compares to non-GAAP net revenue of $366.4 million and non-GAAP net income of $30.0 million, or $0.13 per diluted share, for the second quarter of fiscal 2007, and to non-GAAP net revenue of $315.5 million and a non-GAAP net loss of $2.8 million, or $0.01 per share, for the third quarter of fiscal 2006.
On an adjusted EBITDA basis (adjusted earnings before interest, taxes, depreciation and amortisation), the company earned $17.7 million for the quarter ended 31st March 2007, which compares to $33.9 million for the second quarter of fiscal 2007, and to $7.9 million for the third quarter of fiscal 2006.
"In terms of revenue, JDSU's third quarter was stronger than expected, with a much smaller than anticipated seasonal decline, and year-over-year growth of 15%", said Kevin Kennedy, JDSU's Chief Executive Officer.
"For the first time in more than five years, we achieved positive free cash flow, and we remain committed to focused execution of our profitability improvement programmes".
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