Oclaro Expects Financial Performance at High End of Previous Guidance

Oclaro expects revenue for the second quarter of its fiscal 2017, ended December 31, 2016, to be in the range of $153.5 million to $154.0 million, at the high end of the prior guidance of $146 million to $154 million provided on November 1, 2016.

GAAP gross margin of approximately 39.5% and non-GAAP gross margin of approximately 40%, above the prior non-GAAP guidance of 33% to 36%.  Non-GAAP gross margin excludes the effect of approximately $0.5 million of stock-based compensation.

GAAP operating income of approximately $33 million and non-GAAP operating income of approximately $36 million, above the prior non-GAAP guidance of $22 million to $26 million.  Non-GAAP operating income excludes $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.  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," said Greg Dougherty, Chief Executive Officer, Oclaro.

http://www.oclaro.com

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Oclaro updated its outlook for the first quarter of fiscal year 2016 saying it now expects to exceed its previously provided financial gu