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To: candide- who wrote (16311)	4/25/2000 4:41:00 PM
From: candide-	Read Replies (1) \| Respond to of 35685

JDS Uniphase Announces Third Quarter Results Sales Increase 40% From Second Quarter NEPEAN, Ontario, and SAN JOSE, Calif., April 25 /PRNewswire/ -- JDS Uniphase Corporation (Nasdaq: JDSU; TSE: JDU) today reported sales for its third quarter ended March 31, 2000 of $394.6 million, and pro forma net income of $85.8 million or $0.11 per diluted share. Sales for the nine months ended March 31, 2000 were $906.4 million. Sales for the quarter were 40% higher than net sales of $281.7 million for the quarter ended December 31, 1999, and 155% above pro forma combined sales of $154.9 million for the quarter ended March 31, 1999. Sales for the nine months ended March 31, 2000 of $906.4 million were 129% above pro forma sales for the comparable prior year period. Pro forma sales for the prior year combine the separately reported results of JDS FITEL Inc. and Uniphase Corporation, which merged in a transaction accounted for as a purchase at the close of business on June 30, 1999. Results include those of Optical Coating Laboratory, Inc. (OCLI), Epitaxx, Inc. and Sifam Ltd., which were acquired in transactions accounted for as purchases on February 4, 2000, November 15, 1999, and December 16, 1999, respectively. Including merger-related and purchased intangibles amortization charges, the Company reported a loss of $240.9 million or $0.32 per share for the quarter and $485.9 million or $0.70 per share for the first nine months of fiscal 2000. JDS Uniphase generated $92.1 million in cash flow from operations for the quarter. The Company invested $77.4 million in capital expenditures during the quarter in connection with its global capacity expansion. On a pro forma basis, excluding merger-related charges and the amortization of purchased intangible assets, JDS Uniphase reported net income of $85.8 million or $0.11 per share for the quarter, an increase of 31% over the $65.7 million or $0.09 per share for the quarter ended December 31, 1999. Pro forma net income for the nine month period ended March 31, 2000 was $202.9 million or $0.27 per share, an increase of 144% from the $83.2 million or $0.12 per share earned in the prior year's comparison period. The impact of excluded acquisition, divestiture and amortization costs is summarized in the Company's pro forma financial tables that follow in this release. The following table summarizes pro forma results for the quarter: (in millions, except per share amounts) Three months ended March 31, 2000 1999 Net sales $394.6 $154.9 Gross profit 204.9 79.4 Income from operations 122.6 48.5 Income before income taxes 132.6 50.7 Net income $85.8 $33.2 Net income per diluted share $0.11 $0.05 Diluted weighted average shares outstanding 814.3 683.2 Pro forma results for the quarter ended March 31, 2000 exclude the $12.4 million effect on gross profit of the purchase accounting increase in OCLI inventory at February 4, 2000, an $84.1 million acquired in-process research and development charge recorded in connection with the OCLI acquisition, and $249.6 of purchased intangibles amortization. Fiscal 1999 pro forma results combine the separately reported results of JDS FITEL Inc. and Uniphase Corporation. Pro forma results for the quarter ended March 31, 1999 exclude $3.9 million of purchased intangibles amortization, $0.5 million resulting from a change to estimated costs recorded in connection with the Ultrapointe asset sale on December 31, 1998, and certain commercial transactions between JDS FITEL Inc. and Uniphase Corporation. These pro forma results also reflect the impact of pro forma adjustments to income tax expense. JDS Uniphase is a high technology company that designs, develops, manufactures and distributes a comprehensive range of products for the growing fiberoptic communications market. These products are deployed by system manufacturers worldwide to develop advanced optical networks for the telecommunications and cable television industries. JDS Uniphase Corporation is traded on the Nasdaq National Market under the symbol JDSU, and the exchangeable shares of JDS Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol JDU. More information on JDS Uniphase is available at www.jdsunph.com.