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Optical components

OCPI Reports Q3

WOODLAND HILLS, Calif. -- Optical Communication Products, Inc. (Nasdaq:OCPI), a manufacturer of fiber optic subsystems and modules for metropolitan area, local area and storage area networks, today reported financial results for the quarter ended June 30, 2005, which is the third quarter of OCP's fiscal year ending September 30, 2005.

Revenue for the third quarter of fiscal 2005 decreased 4.7% to $13.6 million from $14.3 million for the same period in fiscal 2004, and increased 0.7% compared with $13.5 million for the second quarter of fiscal 2005. Net income for the third quarter of 2005 was $468,000 compared to net income of $1.0 million for the same period in fiscal 2004, and a net loss of $1.1 million for the second quarter of fiscal 2005. The earnings per diluted share for the third quarter of fiscal 2005 was $0.00 per share compared to earnings per diluted share of $0.01 for the same period in fiscal 2004, and a loss per share of $0.01 for the second quarter of fiscal 2005. In addition, during the third quarter of fiscal 2005, the Company utilized approximately $543,000 of inventory in production that had previously been written down to zero.

"Our performance has remained consistent, with revenue between $13 million and $14 million for the last few quarters," said Dr. Muoi Van Tran, OCP's Chairman and CEO. "We also continue to enjoy a strong cash position, with approximately $149 million in cash, cash equivalents and marketable securities as of June 30, 2005."

The current economic environment in the telecommunications sector continues to limit the company's visibility with respect to its long-term revenue forecasts. In the short-term, revenue in the fourth quarter ending September 30, 2005 is expected to be within the range of $14 million to $16 million.

OCP also today announced the election of Haruki Ogoshi and Arinobu Sato to its board of directors to fill the vacancies created by the recent resignations of Naoomi Tachikawa and Akihiro Fukunaga, who resigned as directors effective July 25, 2005.

Mr. Ogoshi has been with The Furukawa Electric Co., Ltd. since April 1980. Currently, Mr. Ogoshi is General Manager of the Optical Component Products Department Telecommunications Company of The Furukawa Electric Co., Ltd., a position he has held since April 2004. Mr. Ogoshi also served as Deputy Senior Manager of FITEL Products Division (August 2003 to March 2004), General Manager of Optical Component Dept. FITEL Products Division (November 2002 to August 2003), and General Manager of Optical Subsystem Department, FITEL Products Division (June 1999 to November 2002). Mr. Ogoshi earned his master's degree and bachelor's degree in Electrical Engineering from Ibaragi University in Japan.

Mr. Sato joined The Furukawa Electric Co., Ltd. in April of 1982 and has held a number of positions since that time. Currently, Mr. Sato is Manager of the Group Business Administration Department, a position he has held since July 2005. From September 2003 until July 2005, Mr. Sato was Manager of the Accounting and Financing Division. Mr. Sato also worked at Furukawa Electric North America, where he was Chief Financial Officer from June 1998 until January 2003 and President from January 2003 until December 2003. Mr. Sato earned his bachelor's degree in commerce from Waseda University in Japan.

Optical Communication Products Inc. (OCPI)

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