SDLI kicks butt!
SDL Announces Record Results for 2000 Third Quarter
Revenue Rises 33 Percent and Pro forma Operating Income Increases 52 Percent Versus Prior Quarter
SAN JOSE, Calif., Oct. 19 /PRNewswire/ -- SDL, Inc. (Nasdaq: SDLI - news) today announced record revenues of $146.5 million and pro forma net income of $40.4 million, or $0.45 per diluted share, for the third quarter ended September 30, 2000.
Driven by significant increases in shipments of communications products for both terrestrial and undersea fiber optic systems, third quarter revenue was 208 percent above that reported for the year earlier quarter ended September 30, 1999 and 33 percent higher than revenue in the second quarter of 2000. Revenue from fiber optic communications products increased 38 percent over the second quarter and by 332 percent over the prior year quarter, and represented a record 90 percent of total revenue. Sequential growth remained strong in both terrestrial (up 42 percent) and undersea (up 28 percent) sectors of the fiber optic communications business.
Including merger expenses, purchased intangible amortization charges, non- cash stock compensation expense and payroll tax on stock options, the company reported a net loss of $115.8 million, or $1.34 per diluted share, for the quarter.
On a pro forma basis, SDL reported net income of $40.4 million, or $0.45 per share, for the quarter, an increase of 420 percent over the $7.8 million, or $0.11 per share, pro forma net income for the quarter ended September 30, 1999. Pro forma operating income rose by 52 percent over Q2 2000 and increased by more than six times over such income from the prior year quarter. Due to improved product mix, higher yields and volume efficiencies, the third quarter pro forma operating margin expanded to a record 39.4 percent of revenue....
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