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Oplink reports financial results for third quarter fiscal 2005
April 28, 2005
FREMONT, Calif. -- Oplink Communications, Inc. (Nasdaq: OPLK), a leading Photonic Foundry and provider of optical networking components, today reported financial results for the third quarter of fiscal year 2005 ended April 3, 2005.
For the third quarter, Oplink reported revenues of $8.4 million, which represents an increase of 3.4% over revenues of $8.1 million reported in the second quarter of fiscal 2005. The company reported a net loss of $359,000, or $0.00 per share, for the third quarter of fiscal 2005, as compared to a net loss of $2.3 million, or $0.02 per share, reported in the second quarter of fiscal 2005. The net loss in the third quarter of fiscal 2005 includes a one-time benefit of $904,000 from the termination of the EZConn transaction.
"We are satisfied with our results for the third quarter, posting solid gross margins, continued improvement in our operating model, and a balance of almost $186 million in cash, cash equivalents and investments," commented Joe Liu, president and CEO of Oplink. "We had solid sales activity with some of our larger customers, including Nortel, Fujitsu, ADVA and Huawei and believe there is opportunity for continued growth in the coming quarters. We are encouraged by the level of interest in our intelligent subsystem capabilities and opportunities in the Fiber-to-the-X and access market."
For the fourth quarter of fiscal 2005, Oplink expects sequential revenue growth to be slightly better than the sequential revenue growth in third quarter of fiscal 2005 and a net loss per share of $0.01.
The company presents each of the fiscal quarters and fiscal year end as if it ended on the last day of each calendar quarter or twelve-month period, respectively. The company operates and reports using interim fiscal quarters and twelve-month periods, which end on the Sunday closest to the end of each calendar quarter and twelve-month period. April 3, 2005 and March 28, 2004 represent the Sunday closest to the periods ended March 31, 2005 and March 31, 2004, respectively.
Oplink Communications Inc.
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