& cplSiteName &

Bit Parts: Investors Hound Oplink

Dan O'Shea
8/15/2014
50%
50%

The optical components sector always seems to have more than its share of corporate and financial drama. Here's an update on a few recent happenings.

  • Oplink Communications Inc. (Nasdaq: OPLK)'s corporate governors continue to face pressure from activist shareholders desiring board representation and a sale of the optical components firm's non-core Oplink Connected business. The latest salvo from those investors -- Engaged Capital and Voce Capital Management, who have now dubbed themselves Oplink Shareholders for Change (OSC) -- is a statement calling on Oplink's board to "suspend its strategic decision-making process until the reconstitution of the Board at the upcoming annual meeting of shareholders."

    Why would investors seeking change want the current board to sit on its hands? Because Oplink already has indicated it is planning to add members to its board, and the OSC participants also have nominated their own choices for new board membership. OSC doesn't want the current Oplink board making a decision about Oplink Connected business that it wouldn't support. Oplink currently is reviewing strategic alternatives for the unit, including a sale, but also a shutdown, and already has moved to classify the business as discontinued operations. (See Oplink Answers Activist Investors.)

  • Alliance Fiber Optic Products Inc. (Nasdaq: AFOP) recently reported a 27% jump in revenue for the second quarter, compared to the same quarter a year before. But critics -- exemplified by this Seeking Alpha post -- have been concerned that the company is too reliant on its biggest customer, believed to be Google, which has been responsible for as much as 35% of the company’s revenue. The poster also calls into question company officials’ lack of candor regarding executive compensation and insider selling.

  • Oclaro Inc. (Nasdaq: OCLR) just reported its own unit sale, saying it sold its industrial and consumer product businesses in Japan to a Japanese semiconductor company for roughly $18.5 million in cash. The company also reported a net loss for the fiscal fourth quarter of $24 million, compared with a net loss of $22.9 million the year-ago period. That news comes not long after Oclaro impressed the sector with the hiring of former Cisco Systems Inc. (Nasdaq: CSCO) executive Adam Carter. (See Get Carter: Oclaro Did, From Cisco)

— Dan O'Shea, Managing Editor, Light Reading

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
From The Founder
Light Reading is spending much of this year digging into the details of how automation technology will impact the comms market, but let's take a moment to also look at how automation is set to overturn the current world order by the middle of the century.
Flash Poll
Upcoming Live Events
November 1, 2017, The Royal Garden Hotel
November 1, 2017, The Montcalm Marble Arch
November 2, 2017, 8 Northumberland Avenue, London, UK
November 2, 2017, 8 Northumberland Avenue – London
November 10, 2017, The Westin Times Square, New York, NY
November 16, 2017, ExCel Centre, London
November 30, 2017, The Westin Times Square
May 14-17, 2018, Austin Convention Center
All Upcoming Live Events
Infographics
With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
Hot Topics
Muni Policies Stymie Edge Computing
Carol Wilson, Editor-at-large, 10/17/2017
Pai's FCC Raises Alarms at Competitive Carriers
Carol Wilson, Editor-at-large, 10/16/2017
Is US Lurching Back to Monopoly Status?
Carol Wilson, Editor-at-large, 10/16/2017
'Brutal' Automation & the Looming Workforce Cull
Iain Morris, News Editor, 10/18/2017
Worried About Bandwidth for 4K? Here Comes 8K!
Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 10/17/2017
Animals with Phones
Live Digital Audio

Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

Like Us on Facebook
Twitter Feed