The Wall Street Journal Interactive Edition -- April 25, 2000
Tech Center
JDS Uniphase Posts Loss on Charges
As Revenue Rises More Than Fivefold
An INTERACTIVE JOURNAL News Roundup
Fast-growing networking-equipment maker JDS Uniphase Corp. posted a deep loss due to
acquisition-related charges. But its results were slightly better than Wall Street had expected.
JDS's market capitalization has surged in the past year, mostly because of a series of deals that
have solidified its role in high-speed communications. The company's components are used in a
range of hardware being deployed to carry more voice and data at higher speeds.
Late Tuesday, JDS reported a loss of $240.9 million, or 32 cents a
share, for the quarter, compared with a profit of $12.8 million, or four
cents a share, in the year-earlier period.
Excluding merger-related and purchased intangibles amortization charges, the company had a profit
of $85.8 million, or 11 cents a share. Analysts surveyed by First Call/Thomson Financial were
expecting a profit, excluding charges, or 10 cents a share.
Sales rose more than fivefold to $394.6 million from $74.5 million in the year-earlier period. On a
pro forma basis, sales in the year-earlier period were $154.9 million.
Pro forma sales for the prior year combine the separately reported results of JDS Fitel Inc. and
Uniphase Corp., which merged in a transaction accounted for as a purchase in June 1999. Results
also include Optical Coating Laboratory Inc., Epitaxx Inc. and Sifam Ltd., which were acquired in
transactions in the past six months. |
