Oclaro, Inc. (Avanex-Bookham) Message Board

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Technology Stocks : Oclaro, Inc. (Avanex-Bookham)

OCLR 8.260

0.0%

Dec 10 3:00 PM EDT

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From: Glenn Petersen	10/28/2010 9:14:47 AM
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Olcaro is getting hammered this morning. The company's press release: finance.yahoo.com Olcaro Falls Hard On December Quarter Revenue Warning By Eric Savitz Barron's October 28, 2010, 9:00 AM ET The troubles continue for the optical networking sector. Following on the heels of a stark warning on the December quarter earlier in the month from Infinera (INFN), Oclaro (OCLR) has now likewise made cautious remarks on the outlook for the quarter, triggering another round of selling in the sector. Oclaro this morning reported revenue for its fiscal first quarter ended October 2 of $121.3 million, a bit below the Street at $123.3 million. The company reported GAAP profits of a penny a share and non-GAAP profits of 6 cents a share (thought I would note that they did not actually report a non-GAAP EPS figure in the release, oddly); the Street has been expecting 22 cents a share. For FY Q2, the company sees revenue of $116 million to $124 million, below the Street at $128.5 million. Oclaro sees adjusted EBITDA for the quarter of $6 million to $11 million, which compares to $10.9 million in fiscal Q1. CEO Alain Couder said in a statement that the company “experienced a slowdown in the rate of revenue growth in late September.” In pre-market trading, OCLR is down $3.77, or 27.6%, to $9.91. blogs.barrons.com

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