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OCP Reports Q3

Optical Communication Products reported its financial results for the third quarter of fiscal year 2006, which ended on June 30, 2006

July 27, 2006

2 Min Read

WOODLAND HILLS, Calif. -- Optical Communication Products, Inc. (NASDAQ NMS:OCPI - News), a leading manufacturer of optical subsystems and modules, today reported its financial results for the third quarter of fiscal year 2006, which ended on June 30, 2006.

Revenue for the third quarter was $14.9 million, an increase of 9.5% compared with revenue of $13.6 million during the comparable period in 2005, and a decrease of 18.7% compared with revenue of $18.3 million for the second quarter of 2006.

The net loss for the third quarter 2006 was $437,000, compared to net income of $468,000 for the same period in 2005, and net income of $2.1 million in the second quarter of 2006. As the Company noted in April, third quarter revenues were expected to be less on a sequential basis due to a number of factors, including a shift in the mix of products sold this quarter and a reduction in the number of orders from some of its customers for reasons specific to their businesses.

The loss per diluted share for the third quarter of 2006 was $0.00 per share, compared with earnings per diluted share of $0.00 for the third quarter in 2005, and earnings per diluted share of $0.02 per share in the second quarter of 2006. In addition, during the third quarter of 2006, the Company utilized approximately $400,000 of inventory in production that had previously been written down to zero.

Commenting on the Company's financial results, Dr. Muoi Van Tran, OCP's Chairman said: "Our third-quarter revenue was in line with our expectations, though short of our ambitious long-term goals. During the quarter, we announced the acquisition of GigaComm, which will position us as a major supplier in the highly important fiber-to-the-home (FTTH) market, give us a leading position in the advanced Japanese telecommunications market, and bring us critical mass in the global marketplace with a significant addition to revenues, technology, and manufacturing capability."

Optical Communication Products Inc. (OCP) (Nasdaq: OCPI)

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