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JDSU Reports Q1

November 05, 2009 |

MILPITAS, Calif. -- JDSU (NASDAQ:JDSU - News) (TSX:JDU - News) today reported results for its first fiscal quarter ended October 3, 2009.

Net revenue for the first fiscal quarter was $297.8 million and the net loss was $(31.9) million, or $(0.15) per share. This compares to net revenue of $273.1 million and a net loss of $(63.6) million or $(0.29) per share for the prior quarter, and net revenue of $377.2 million and a net loss of $(21.3) million or $(0.10) per share for the first fiscal quarter of 2009.

On a non-GAAP basis, net revenue for the first quarter was $298.6 million and net income for the quarter was $9.0 million or $0.04 per share. This compares to non-GAAP net revenue of $274.0 million and net loss of $(1.6) million or $(0.01) per share for the prior quarter, and non-GAAP net revenue of $377.3 million and net income of $23.9 million or $0.11 per share for the first fiscal quarter of 2009.

"Our fiscal Q1 results represent growth across all of our business segments providing clear evidence of improving demand from our customers," said Tom Waechter, JDSU's President and Chief Executive Officer. "The leverage in our operating model and balance sheet will become increasingly evident as our top line grows."

Financial Overview -- First Fiscal Quarter Ended October 3, 2009

  • Non-GAAP net revenue of $298.6 million, which includes $7.5 million

    from the acquisition of the Storage Network Tools business,

    increased 9% when compared to the previous quarter and decreased 21%

    when compared to the first quarter of fiscal 2009.

  • Non-GAAP gross margin was 44% compared to 42% for the prior quarter

    and 43% for first quarter of fiscal 2009.

  • Non-GAAP operating margin was 3% compared to an operating loss of 1%

    in the prior quarter and operating margin of 6% in first quarter of

    fiscal 2009.

  • Communications Test and Measurement revenue of $143.4 million

    increased 8% from the previous quarter and decreased 11% compared to

    the first quarter of fiscal 2009. Revenue from this segment

    represented 48% of total non-GAAP net revenue.

  • Communications and Commercial Optical Products revenue of $101.1

    million increased 12% when compared with the previous quarter and

    decreased 38% when compared to the first quarter of fiscal 2009.

    Revenue from this segment represented 34% of total non-GAAP net

    revenue.

  • Optical Communications revenue of $86.0 million increased 9%

    compared with the previous quarter and decreased 39% compared

    to the first quarter of fiscal 2009.

    JDS Uniphase Corp.



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