Jenna, ETEK one of your recent watch lists and on CNBC tomorrow...
E-TEK Dynamics Announces Results for First Quarter FY2000
Net Revenues up 83%, Pro Forma Net Income up 120%
SAN JOSE, Calif., Oct. 12 /PRNewswire/ -- E-TEK Dynamics, Inc. (Nasdaq: ETEK - news) today announced financial results for its first fiscal quarter ended October 2, 1999.
Net revenues for the first quarter of fiscal 2000 were $60.3 million, up 83% from $32.9 million reported in the same period of fiscal 1999. Pro forma net income (excluding the impact of purchased in process research and development costs and intangibles amortization) for the first quarter of fiscal 2000 was $11.6 million, up 120% from $5.3 million reported in the same period of fiscal 1999. Pro forma net income per share on a diluted basis for the first quarter of fiscal 2000 was $0.17 compared with $0.09 in the prior year's first quarter.
Actual net income for the first quarter of fiscal 2000 was $6.7 million, up 27% from $5.3 million reported in the same period of fiscal 1999. Actual net income per share on a diluted basis for the first quarter of fiscal 2000 was $0.10 compared with $0.09 in the prior year's first quarter.
About E-TEK Dynamics
E-TEK Dynamics, Inc., headquartered in San Jose, is a leader in the design and manufacturing of high quality passive components and modules for fiber optic systems. E-TEK's wavelength division multiplexers (``WDMs') are designed to increase the bandwidth capacity of fiber optic networks. Other E-TEK components, including isolators, couplers and integrated optics, are critical in enabling optical communications systems. These products are utilized in terrestrial and submarine long-haul fiber-optic networks as well as in short-haul markets, such as metro and cable. More information on E-TEK is available at e-tek.com. |
