Oclaro trimmed its financial guidance citing dontinued challenging market conditions in the segments of the optical communications space. The company now expects revenue of approximately $149 million in its first fiscal quarter ending September 29, 2012, compared to the low end of its guidance of $154 million, previously issued on July 31, 2012.
Oclaro also cited slower than expected recovery of customer share of certain products to pre-flood levels, including certain data communications products; and slower than expected ramp of new products, in particular certain customer-qualified new 40G and 100G products.
"We are disappointed that the revenues for the first quarter of our 2013 fiscal year are below guidance," said Alain Couder, Chairman and CEO of Oclaro. "Following the merger, our integration activities are on track to execute our synergies, and our customer relationships are strong. We expect these factors to strengthen our future performance and expect revenues to be up in the December quarter."
http://www.oclaro.com
- Oclaro and Opnext completed their merger on July 23, 2012, creating a leader in key components for core optical networking for long-haul, regional and metro DWDM, and positioned to become a leader in data communications for enterprises and data centers, as well as industrial and consumer laser diodes market.
- Oclaro was formed in 2009 through the merger of Bookham and Avanex Corporation, both suppliers of optical networking components. Its product set includes tunable lasers, modulators, dispersion compensation components, wavelength selective switches, modules and sub-systems. In mid-2009, the company acquired the Newport Spectra Physics high power laser diodes business.
- Opnext was established in September 2000 from the spinoff of Hitachi's Fiber Optic Components Business Unit. The new company was funded by the Clarity Group and Marubeni Group. The Opnext product line includes transceivers, pluggable modules (XENPAK, X2/XPAK, XFP, SFP+, SFP), TOSA/ROSA, and communications laser diodes and photodiodes; 40G muxponders, transponders, regenerators, tunable dispersion compensators, PMD compensators, and shelf controllers; and red laser diodes and infrared laser diodes.
- Financially, the merger is expected to have a positive impact on gross margins and on operating margin. Both companies have been moving to an outsourcing model. Oclaro recently signed a definitive agreement to transition its internal assembly and test to Venture in Malaysia. On a non-flood basis, about 30% to 35% of Oclaro’s, and about 40% to 45% of Opnext’s assembly and test are with Fabrinet.
