JDSU Posts Strong Results

JDSU reported net revenue of $429.4 million and net income of $4.1 million, or $0.02 per share. Prior quarter net revenue was $420.9 million, with a net loss of $(11.6) million, or $(0.05) per share. Net revenue for the fiscal 2012 second quarter was $409.3 million, with a net income of $(10.2) million, or $(0.04) per share.

“JDSU delivered a strong fiscal Q2, with revenue at the top of our guidance range and operating margins exceeding expectations across all three business segments,” said Tom Waechter, President and CEO of JDSU. “We are pleased with the progress we’ve made in aligning our product portfolio with customer spending priorities, resulting in a high percentage of revenue from new products and a positive impact on financial results. We are well-positioned for growth opportunities in 2013.”

Some highlights:

• For Communications & Test product revenue was driven by demand for Ethernet, mobility, 100G and cloud solutions.
• For Optical, JDSU’s total ROADM revenue accounted for 20% of optical revenue compared to 24% in the previous quarter as a result of the VMI transition and timing of key customers.
• 40G and 100G coherent components and modules are ramping programs.
• Americas, EMEA and Asia-Pacific represented 49.9%, 23.8% and 26.3%, respectively, of total net revenue for the quarter.
• JDSU held $740.2 million in cash and investments and generated $59.4 million of cash from operations for the quarter ended December 29, 2012.

http://www.jdsu.com