Oplink Reports Flat Q2
FREMONT, Calif. -- Oplink Communications, Inc. (Nasdaq:OPLK), a leading Photonic Foundry and provider of optical networking components, today reported financial results for the second quarter of fiscal year 2005 ended January 2, 2005.
For the second quarter, Oplink reported revenues of $8.1 million and a net loss of $2.3 million, or $0.02 per share. This compares to revenues of $8.1 million and a net loss of $2.1 million, or $0.01 per share, reported in the second quarter of fiscal 2004. For the third quarter of fiscal 2005, Oplink expects revenue to be comparable with that of the second quarter of fiscal 2005 and expects a net loss of $0.01 per share.
Oplink closed the second quarter with $185.3 million in cash, cash equivalents and short and long-term investments, mostly unchanged from the prior quarter. The company generated $544,000 in cash from operations and used approximately $1.0 million for capital expenditures during the second quarter.
"Despite lower than expected results in the second quarter, we had solid sales activity with some of our larger customers, including Nortel and Huawei," commented Joe Liu, president and CEO of Oplink. "We continue to see good demand in the marketplace for metro applications and increasing interest for access products, where we are building our product capabilities, despite the recent termination of the proposed EZconn acquisition. We will continue to broaden our product portfolio through internal development and acquisitions to solidify our position in the FTTX ("Fiber-to-the-X") market."
Oplink Communications Inc.