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Oclaro Announces Second Quarter Fiscal Year 2013 Financial Results
Date:1/31/2013

SAN JOSE, Calif., Jan. 31, 2013 /PRNewswire/ -- Oclaro, Inc. (NASDAQ: OCLR), a provider of optical components, modules and subsystems, today announced the financial results for its second quarter of fiscal year 2013, which ended December 29, 2012.

"Our financial results for the second quarter of fiscal 2013 demonstrate the progress we are making after the merger," said Alain Couder, chairman and CEO. "Our revenues were at the top-end of guidance and we have successfully executed to the planned synergies on schedule. We also took action to strengthen our balance sheet.  Looking ahead, market and economic conditions remain uncertain in a typically softer March quarter. As a result, our efforts will remain focused on reducing operating expenses and improving margin, as well as capitalizing on our new product introductions and strong customer relationships to maximize revenues."

Results for the Second Quarter of Fiscal 2013:Oclaro closed its merger with Opnext, Inc. on July 23, 2012. The financial results for the second quarter of fiscal 2013 include a full quarter of operating results of Opnext. The financial results for the first quarter of fiscal 2013 include approximately ten weeks of operating results of Opnext since the closing of the merger. Results for the second quarter of fiscal 2012 were pre-merger Oclaro and do not include the operating results of Opnext.

  • Revenues were $159.5 million for the second quarter of fiscal 2013, compared with revenues of $148.8 million in the first quarter of fiscal 2013. Pro forma combined revenues for the first quarter of fiscal 2013, including Opnext for the full quarter, were $160.2 million.
  • GAAP gross margin was 13% for the second quarter of fiscal 2013, compared with a GAAP gross margin of 12% in the first quarter of fiscal 2013.
  • Non-GAAP gross margin was 15% for the second quarter of fisca
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