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Bookham Announces Q1 Results

OXFORDSHIRE, U.K. -- Bookham Technology plc (LSE: BHM, Nasdaq: BKHM), a leading supplier of silicon integrated optical components for fibre-optic communication networks, today announced results for the first quarter ended April 1, 2001.

Financial Highlights
* Revenues were £11.6 million ($16.5 million) compared to £11.5 million ($16.3 million) in the previous quarter and up 362% from the comparable quarter in 2000.
* Net loss under UK GAAP was £11.7 million ($16.6 million) compared to £8.5 million ($12.1 million) in the previous quarter, which included a £3 million ($4.3 million) credit relating to National Insurance charges on share options.
* Under US GAAP, net loss was £12.4 million ($17.6 million) compared to £11.5 million ($16.3 million) in the previous quarter.
* Cash balances at the end of the quarter amounted to £238 million ($338 million) after capital investment of £23.3 million ($33.1 million).

Commenting on the first quarter results, Giorgio Anania, President and Chief Executive Officer, said: "Despite the current difficult economic environment, we continue to increase our momentum in customer activity toward securing further DWDM design wins. Our ASOC technology continues to provide distinct competitive advantages for optical integration as demonstrated with our new metro node solution at the recent Optical Fibre Conference in March. At this conference our target customers’ confirmed their strong and increasing level of interest in Bookham’s current and future product platforms. We have achieved ambitious targets in cutting overall costs this quarter and will continue to be cost-conscious throughout this period of volatility. Our cash balance remains strong, which allows us to continue to invest in research and development. We believe this will enable us to accelerate new product development to position the company for strong growth in the future."

Bookham Technology PLC
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