Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Effective Collaboration - Team Research for Better Returns: -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (1246)	11/26/2012 5:21:34 PM
From: The Ox	Respond to of 8239

SAN JOSE, Calif. (AP) -- Oclaro Inc. has plans to sell two of its business lines for $27 million total, the optical communications company said Monday. The company said it will sell its Santa Rosa thin film filter business to Photop Technologies Inc., which is a subsidiary of II-VI Inc. The company will also sell its interleaver product line, which sells fiber-optic devices, to Photop Koncent Inc., another II-VI subsidiary. Oclaro said the deals are part of its broader strategy to focus on its core business. The company plans to use the proceeds to improve its balance sheet and give it some operating flexibility. The company said the $27 million cash deal will be paid in portions — $23 million upon closing, $3 million by Dec. 28 and $1 million in escrow until Dec. 31. Oclaro said selling these product lines will reduce its revenue for the fiscal quarter ending in December by $2 million from what the company had forecast. Analysts expect the company to post quarterly revenue of $155.7 million, according to a survey by FactSet.