JDSU Posts Q3
MILPITAS, Calif. -- JDSU (NasdaqGS:JDSU - News) (Toronto:JDU.TO - News) today reported results for its third quarter ended March 29, 2008.
Net revenue for the third quarter of fiscal 2008 was $383.9 million and the net loss was $(6.2) million, or $(0.03) per share. This compares to net revenue of $361.7 million and a net loss of $(14.2) million or $(0.07) per share for the third quarter of fiscal 2007.
On a non-GAAP basis, net revenue for the third fiscal 2008 quarter was $384.2 million and net income was $31.2 million, or $0.14 per share. This compares to non-GAAP net revenue of $361.8 million and net income of $12.3 million, or $0.06 per share, for the third quarter of fiscal 2007.
On a non-GAAP basis, operating profit for the third fiscal quarter was $15.9 million or 4.1% of revenue. This compares to non-GAAP operating profit of $3.3 million or 0.9% of revenue for the third quarter of fiscal 2007.
On an adjusted EBITDA basis (adjusted Earnings Before Interest, Taxes, Depreciation and Amortization) the Company reported $32.3 million for the third quarter of fiscal 2008, which compares to $17.7 million for the third quarter of fiscal 2007.
"Year over year financial performance improvements for the first three quarters of the fiscal year evidence significant improvement in JDSU's business model," said Kevin Kennedy, JDSU's Chief Executive Officer. "Moving forward we are making investments in the business to create additional operating leverage for the future."
JDSU (Nasdaq: JDSU; Toronto: JDU)