Revenues were £11.6 million ($16.5 million); largest customer this quarter was Nortel, representing 36% of sales

April 25, 2001

1 Min Read

OXFORDSHIRE, U.K. -- Bookham Technology plc (LSE: BHM, Nasdaq:BKHM), a leading supplier of silicon integrated optical components forfibre-optic communication networks, today announced results for the firstquarter 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 comparablequarter in 2000.
* Net loss under UK GAAP was £11.7 million ($16.6 million) compared to £8.5million ($12.1 million) in the previous quarter, which included a £3 million($4.3 million) credit relating to National Insurance charges on shareoptions.
* 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 ($338million) after capital investment of £23.3 million ($33.1 million).

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

Bookham Technology PLC

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