Oclaro preannounces good news for FY2Q17 results
Optical component and module vendor Oclaro, which has been riding a wave of interest in 100-Gbps technology to success for the last several quarters, appears to have stayed on its surfboard during the second quarter of fiscal 2017, which ended December 31, 2016. The company released preliminary figures for the quarter, saying it expects to report on January 31 that revenues should come in at the high end of guidance, while GAAP and non-GAAP gross margin should exceed guidance.
Company management says that revenues for the quarter should fall within $153.5 million to $154.0 million, at the high end of the prior guidance of $146 million to $154 million. GAAP gross margin of approximately 39.5% and non-GAAP gross margin of approximately 40% will surpass the prior non-GAAP guidance of 33% to 36%. The company notes that the non-GAAP gross margin will exclude the effect of approximately $0.5 million of stock-based compensation.
To top things off, the company also expects to report GAAP operating income of approximately $33 million and non-GAAP operating income of approximately $36 million, both above the prior non-GAAP guidance of $22 million to $26 million. The non-GAAP operating income figures will exclude $2.6 million of stock-based compensation and $0.2 million of amortization of other intangible assets.
“Our excellent preliminary results for the December quarter once again demonstrated the strength of Oclaro’s products in the markets we serve” crowed Greg Dougherty, Oclaro’s CEO, via the press release announcing the preliminary figures. “We expect revenue to come in at the high end of guidance as 100G and beyond sales again exhibited excellent growth. In addition, we expect the quarterly results to reflect record levels of gross margin and operating income and exceed our prior guidance. Our performance was driven by strong execution, a richer product mix, and favorable foreign exchange rates.”
Oclaro’s good news mirrored that of Applied Optoelectronics, which also pre-announced better than expected performance for its most recently concluded quarter. For example, the company now expects to report revenues in the range of $84.5 million to $84.8 million, versus guidance of $75.0 million to $79.0 million.
Conversely, NeoPhotonics preannounced that its results for the same timeframe likely won’t match guidance, primarily due to production issues rather than lack of demand. It now predicts revenues in the range of $105 million to $109 million versus guidance of $109 million to $115 million. The lower figure would still surpass the $103.3 million earned in the previous quarter.
Source: http://www.lightwaveonline.com/