Very good results from OCLR
seekingalpha.com
Nov. 1, 2016 5:36 PM ET|By: Eric McCaffrey, SA News Editor
Results – revenue $135.49M (+54.8% Y/Y, $3.84M above estimates), EPS $0.14 ($0.04 above estimates), gross margin 34.4% (vs. 26.4% Y/Y), operating income $20.9M (vs. $0.4M Y/Y), net income $20M (vs. $1.6M net loss Y/Y), adjusted EBITDA $25.6M (vs. $4.2M Y/Y), cash, cash equivalents and restricted cash $229.3M
Q2 projections – revenue $146M-$154M, gross margin 33%-36%, operating income $22M-$26M
Oclaro (NASDAQ: OCLR) CEO Greg Dougherty: "The September quarter again demonstrated the continued strong performance of the Company and the vitality of the global 100G market. We exceeded our guidance in all areas, with revenue of $135 million producing higher than forecasted gross margin and operating income. I am particularly pleased by our gross margin of 34 percent and our GAAP and non-GAAP operating income of $18 million and $21 million, respectively. These results were driven by our 100G and beyond portfolio, where sales grew by approximately 20 percent for the fifth consecutive quarter. Based on the projected growth prospects for the data center, China and Metro markets, we expect customer demand for our highly differentiated 100G and beyond portfolio to remain strong in fiscal 2017." |
