Oclaro posts quarterly sales of $139 million

Oclaro reported revenues of $139.3 million for its second quarter of fiscal 2018, compared with revenues of $155.6 million in the first quarter of fiscal 2018, and revenues of $153.9 million in the second quarter of fiscal 2017. GAAP gross margin was 37.2% for the second quarter of fiscal 2018, down from 39.5% in the second quarter of fiscal 2017. Non-GAAP operating income was $24.5 million for the second quarter of fiscal 2018. This compares with non-GAAP operating income of $34.6 million in the first quarter of fiscal 2018, and non-GAAP operating income of $36.2 million in the second quarter of fiscal 2017.

"The December quarter results were in line with our expectations. While revenue declined from the prior quarter, the team again delivered strong gross margin, profitability and cash flow," said Greg Dougherty, Chief Executive Officer, Oclaro. "While we project March quarter revenue to be down sequentially, we anticipate another quarter of solid operating income. As the headwinds facing the industry begin to subside, and we ramp new products, our revenue is expected to resume growth in the June quarter."