Oclaro Sees Recovery from Thai Floods

Oclaro reported revenues of $86.5 million for the second quarter of fiscal 2012, compared to revenues of $105.8 million in the first quarter of fiscal 2012. While above the high end of the company’s guidance for the quarter, revenues and operating results for the quarter were materially impacted by the flood in Thailand. GAAP gross margin was 13% for the second quarter of fiscal 2012, compared to a GAAP gross margin of 23% in the first quarter of fiscal 2012.


“In the second quarter of fiscal 2012, Oclaro achieved revenue at the high end of our previous guidance range, primarily due to our recovery efforts from the recent Thailand flooding,�? said Alain Couder, chairman and CEO of Oclaro. "We are pleased with our recovery progress thus far. We expect full commercial production by the end of March for three of our five affected product lines and within the June quarter for the remaining two. In spite of the flood, we remain focused on enabling Oclaro to emerge from this period better positioned than before, in terms of our market position on certain existing products, recent introductions and our pipeline of new products and new technologies."http://www.oclaro.com