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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: hlpinout who wrote (9702)	4/26/2000 9:07:00 AM
From: hlpinout	Read Replies (1) \| Respond to of 24042

JDS Uniphase Confident E-TEK Merger Will Be Approved Wednesday, April 26, 2000 08:15 AM Mail this article to a friend By Johnathan Burns NEW YORK (Dow Jones)--JDS Uniphase Corp. (JDSU, news, msgs), which beat Wall Street's earnings expectations by a penny a share Tuesday, said it sees sales growing 75% in fiscal 2001, with revenues approaching $2.4 billion. Chief Executive Kevin Kalkhoven, in a teleconference with analysts after the company's third quarter earnings were released, said JDS Uniphase will spend $60 million to $80 million during the fiscal fourth quarter in an effort to increase capacity. The company's fiscal year ends in June. "All of our customers are ramping rapidly," he said. "I think we are going to be in what I might call a tight space for some time to come." Chief Financial Officer Anthony Muller raised the company's revenue growth guidance during the call, saying fourth quarter revenue would swell to $480 million. "We had given guidance of 15% or better growth sequentially," he said. "We believe this should be increased to over 20% sequentially for the fourth quarter." Meanwhile, CEO Kalkhoven said the company remains confident it will win approval for its merger with fellow fiber optic component maker E-TEK Dynamics Inc. (ETEK, news, msgs). The growth projections JDS Uniphase executives made Tuesday don't include E-TEK's results. Kalkhoven said JDS Uniphase is complying with a second round of questioning by the U.S. Justice Department's antitrust division concerning the merger. Analysts believe the deal could be completed sometime in June. The company wouldn't comment and made it clear it would only comment through press releases. The third quarter was a strong one for the company, a period in which it showed growing revenue and swelling net income. JDS Uniphase reported net income of $85.8 million on sales of $394.5 million, compared with income of $33.2 million on sales sales of $154.9 million a year ago. Including merger-related charges and the amortization of purchased intangible assets, the company posted a net income loss of $240.9 million, or 32 cents a share. Kalkhoven and other company executives said JDS Uniphase will embark on an extensive campaign to increase capacity and further improve margins, which were 51.9% in the latest third quarter, higher than expectations. The plan calls for JDS Uniphase to outsource some of its fiber optic module production and implement more automation. Kalkhoven said the company faces even more demand for high-margin fiber optic components as increasing Internet and data usage drive bandwidth capacity. -Johnathan Burns; Dow Jones Newswires; 201-938-2020; johnathan.burns@dowjones.com (This report was originally published late Tuesday.) By Johnathan Burns NEW YORK (Dow Jones)--JDS Uniphase Corp. (JDSU, news, msgs), which beat Wall Street's earnings expectations by a penny a share Tuesday, said it sees sales growing 75% in fiscal 2001, with revenues approaching $2.4 billion. Chief Executive Kevin Kalkhoven, in a teleconference with analysts after the company's third quarter earnings were released, said JDS Uniphase will spend $60 million to $80 million during the fiscal fourth quarter in an effort to increase capacity. The company's fiscal year ends in June. "All of our customers are ramping rapidly," he said. "I think we are going to be in what I might call a tight space for some time to come." Chief Financial Officer Anthony Muller raised the company's revenue growth guidance during the call, saying fourth quarter revenue would swell to $480 million. "We had given guidance of 15% or better growth sequentially," he said. "We believe this should be increased to over 20% sequentially for the fourth quarter." Meanwhile, CEO Kalkhoven said the company remains confident it will win approval for its merger with fellow fiber optic component maker E-TEK Dynamics Inc. (ETEK, news, msgs). The growth projections JDS Uniphase executives made Tuesday don't include E-TEK's results. Kalkhoven said JDS Uniphase is complying with a second round of questioning by the U.S. Justice Department's antitrust division concerning the merger. Analysts believe the deal could be completed sometime in June. The company wouldn't comment and made it clear it would only comment through press releases. The third quarter was a strong one for the company, a period in which it showed growing revenue and swelling net income. JDS Uniphase reported net income of $85.8 million on sales of $394.5 million, compared with income of $33.2 million on sales sales of $154.9 million a year ago. Including merger-related charges and the amortization of purchased intangible assets, the company posted a net income loss of $240.9 million, or 32 cents a share. Kalkhoven and other company executives said JDS Uniphase will embark on an extensive campaign to increase capacity and further improve margins, which were 51.9% in the latest third quarter, higher than expectations. The plan calls for JDS Uniphase to outsource some of its fiber optic module production and implement more automation. Kalkhoven said the company faces even more demand for high-margin fiber optic components as increasing Internet and data usage drive bandwidth capacity. -Johnathan Burns; Dow Jones Newswires; 201-938-2020; johnathan.burns@dowjones.com Quote for referenced ticker symbols: ETEK, JDSU ¸ 2000 Dow Jones & Company, Inc. All Rights Reserved.