Oclaro’s Q2 2017 financial results ‘exceed guidance’

Created February 6, 2017
News and Business

Optical communications solutions developer Oclaro has announced selected preliminary unaudited financial results for the second quarter of fiscal 2017, which ended December 31, 2016.

Preliminary unaudited Q2 2017 financial highlights include the following: revenue of $153.5m-$154.0m, at the high end of the prior guidance of $146m to $154m provided on November 1, 2016; non-GAAP gross margin of approximately 40%, above the prior non-GAAP guidance of 33-36%; non-GAAP operating income of approximately $36m, above the prior non-GAAP guidance of $22m to $26m. Non-GAAP operating income excludes $2.6m of stock-based compensation and $0.2m of amortization of other intangible assets.

Greg Dougherty, CEO, Oclaro, commented, “Our excellent preliminary results for the December quarter once again demonstrated the strength of Oclaro’s products in the markets we serve. We expect revenue to come in at the high end of guidance as 100G and beyond sales again exhibited excellent growth.

“In addition, we expect the latest quarterly results to reflect record levels of gross margin and operating income and exceed our prior guidance. Our performance was driven by strong execution, a richer product mix, and favorable foreign exchange rates,” Dougherty added.

The company cautioned that the anticipated second quarter fiscal year 2017 financial results are preliminary and are based on the best information currently available to management, and subject to the completion of its standard quarterly accounting process and preparation of the financial statements for this period.

More information at www.oclaro.com.

Matthew Peach

This article was written
by Matthew Peach

Matthew Peach is a freelance technology journalist specialising in photonics and communications. He has previously worked for several business-to-business publishers, editing a range of high-tech magazines and websites.