Not everyone made out so well. (See Is Xponent Xpiring?) But for most, this was a good year to be in optical, if you didn't already go public.
If you did, though...
Optium Corp. (Nasdaq: OPTM) shares are down 65 percent since Jan. 1. Opnext Inc. (Nasdaq: OPXT), since its May IPO, is down nearly 50 percent. The big winner appears to be JDSU (Nasdaq: JDSU; Toronto: JDU), down only 20 percent -- but it's got a test-and-measurement cushion.
So, business appears good until your business is publicly measurable? Is that the moral here? Maybe it means Santur Corp. should rethink those IPO aspirations, or that NeoPhotonics Corp. (NYSE: NPTN) executives were being smart back at OFC when they shrugged off suggestions of going public.
Consolidation is reeling in bigger fish, but it's still limited. (See JDSU Picks Up Picolight for $115M, Oplink & OCP Seal Deal, and Oplink & OCP Seal Deal.) The question remains: What will success look like in this industry? (See Optical Future.)
The closest answer so far is Fabrinet Co. Ltd. (NYSE:FN) , but that's a different business. (See IPO Alert: Fabrinet.)
— Craig Matsumoto, West Coast Editor, Light Reading