FREMONT, Calif. -- Oplink Communications, Inc. (Nasdaq:OPLK), a leading photonic components, intelligent modules, and subsystems solution provider, today reported financial results for its fourth quarter and fiscal year ended July 1, 2007.

During the fourth quarter, Oplink completed the purchase of an approximately 58% interest in Optical Communication Products, Inc. (“OCP”) from The Furukawa Electric Co., Ltd. As a result, Oplink’s financial results for the quarter and fiscal year include the results of OCP, net of the 42% minority interest, for the period from the closing of the transaction on June 5, 2007 through the end of the quarter.

Oplink has entered into a merger agreement with OCP to acquire the remaining 42% of OCP’s outstanding common stock. The closing of the merger is subject to the approval by OCP shareholders holding at least two-thirds of the outstanding shares of OCP common stock not held by Oplink. OCP’s shareholder meeting is expected to be held by early October.

Fourth Quarter 2007 Results

Consolidated revenues for the fourth quarter were $37.2 million, $30.6 million of which are attributable to Oplink’s business and $6.6 million of which are due to the consolidation of OCP’s results with Oplink’s results for a portion of the quarter. Total revenue of $37.2 million represents an increase of 35% over the third quarter of fiscal 2007 and an increase of 120% over the fourth quarter of fiscal 2006. The $30.6 million in revenue attributable to Oplink’s business represents an increase of 11% over the third quarter of fiscal 2007 and an increase of 81% over the fourth quarter of fiscal 2006.

Consolidated net income for the fourth quarter, calculated in accordance with accounting principles generally accepted in the United States (“GAAP”), was $3.0 million, or $0.13 per diluted share. Consolidated non-GAAP net income, which excludes approximately $1.5 million in stock-based compensation expense, $1.5 million in expenses incurred by OCP relating to Oplink’s acquisition of OCP and $216,000 in transitional costs for contract manufacturing, net of an $807,000 adjustment to reflect the 42% minority interest related to OCP’s portion of these items, was $5.4 million, or $0.23 per diluted share.

Oplink Communications Inc. (Nasdaq: OPLK)