SDL Announces Record Results for 2000 Fourth Quarter and Fiscal 2000
WEDNESDAY, JANUARY 24, 2001 4:09:00 PM EST
SAN JOSE, Calif., Jan 24, 2001 /PRNewswire via COMTEX/ -- SDL, Inc. SDLI today announced record revenues of $175.6 million and pro forma net income of $48.2 million, or $0.53 per diluted share, for the fourth quarter ended December 31, 2000. Revenue for the full year was a record $504.8 million and pro forma net income was $132.8 million, or $1.55 per diluted share.
Driven by continued strong growth in shipments of products for fiber optic communication systems, fourth quarter revenue was triple that reported for the year earlier quarter ended December 31, 1999 and 20 percent higher than revenue in the third quarter of 2000. Revenue from fiber optic communications products increased 22 percent over the third quarter and by 265 percent over the prior year quarter, and represented a record 92 percent of total revenue. Sequential growth remained strong in both terrestrial (up 21 percent) and undersea (up 26 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 $122.8 million, or $1.41 per share, for the quarter.
On a pro forma basis, SDL reported fourth quarter net income of $48.2 million, or $0.53 per share, an increase of 277 percent over the $12.8 million, or $0.17 per share, pro forma net income for the quarter ended December 31, 1999. Pro forma operating income rose by 20 percent over Q3 2000, and increased by more than five times over such income for the prior year quarter. The fourth quarter pro forma operating margin remained at a record 39.4 percent of revenue.
For the calendar year, total revenue was $504.8 million, up 170 percent over the $187.0 million accomplished in 1999. Sales of fiber optic communications products grew by a factor of 3.6, or 257 percent, and represented 89 percent of the year's total revenue compared to 67 percent in 1999. Pro forma net income in 2000 was $132.8 million, or $1.55 per diluted share, up 321 percent from the $31.6 million, or $0.46 per diluted share, earned in 1999....
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Actual EPS 53¢ vs 49¢ expected.
Revenues $175.6 million vs. $170 million expected. |
