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JDSU ANNOUNCES FISCAL 2012 FOURTH QUARTER AND YEAR END RESULTS
· GAAP Revenue and Non-GAAP Revenue of $439.3 million
· GAAP Gross margin of 41.6%; Non-GAAP Gross margin of 45.0%
· GAAP EPS of $(0.10); Non-GAAP EPS of $0.15
· GAAP Revenue of $1,682.1 million; Non-GAAP Revenue of $1,682.7 million
· GAAP Gross margin of 42.2%; Non-GAAP Gross margin of 46.1%
· GAAP EPS of $(0.25); Non-GAAP EPS of $0.59
Milpitas, California, August 14, 2012 JDSU (NASDAQ: JDSU; and TSX: JDU) today reported results for its fourth fiscal quarter and year ended June 30, 2012.
On a GAAP basis, net revenue for the fourth fiscal quarter of 2012 was $439.3 million and net loss was $(24.3) million, or $(0.10) per share. This compares to net revenue of $409.2 million and net loss of $(17.4) million, or $ (0.08) per share for the prior quarter, and net revenue of $471.8 million and net income of $9.3 million, or $0.04 per share for the fourth fiscal quarter of 2011. The GAAP net loss for the fourth fiscal quarter is inclusive of a $23.7 million impairment charge of certain long-lived assets and $10.5 million of insurance proceeds associated with the Thailand flood.
For fiscal 2012, net revenue of $1,682.1 million decreased 6.8% from $1,804.5 million for fiscal 2011. The net loss for fiscal 2012 of $(57.7) million, or $(0.25) per share, compared to a net income of $71.6 million, or $0.31 per share, for fiscal 2011.
On a non-GAAP basis, net revenue for the fourth fiscal quarter of 2012 was $439.3 million and net income was $35.3 million or $0.15 per share. This compares to non-GAAP net revenue of $409.2 million and net income of $25.3 million, or $ 0.11 per share for the prior quarter, and non-GAAP net revenue of $472.3 million and net income of $53.9 million or $0.23 per share for the fourth fiscal quarter of 2011.
For fiscal 2012 non-GAAP net revenue of $1,682.7 million decreased 7.4% from $1,816.2 million for fiscal 2011. The non-GAAP net income for fiscal 2012 of $137.3 million, or $0.59 per share, compared to a non-GAAP net income of $216.7 million, or $0.93 per share, for fiscal 2011.
JDSUs execution on its strategic priorities is leading to market share gains and financial leverage despite challenging economic conditions, said Tom Waechter, JDSUs President and Chief Executive Officer. Our focus on innovation and operational excellence accelerated in fiscal 2012 and we look forward to advancing our target business model in fiscal 2013.
Financial Overview Fourth Fiscal Quarter Ended June 30, 2012
All numbers in this section are non-GAAP unless stated otherwise.
· Net revenue of $439.3 million increased 7.4% compared to the prior quarter and decreased 7.0% compared to the fourth quarter of fiscal 2011.
· Gross margin was 45.0% compared to 45.5% in the prior quarter and 46.7% in the fourth quarter of fiscal 2011.
· Operating margin was 8.7% compared to 7.3% in the prior quarter and 12.3% in the fourth quarter of fiscal 2011.
The following information was filed by Viavi Solutions Inc. (VIAV) on Tuesday, August 14, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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