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JDSU ANNOUNCES FISCAL FOURTH QUARTER AND YEAR END 2014 RESULTS
· GAAP Revenue and Non-GAAP Revenue of $448.6 million
· GAAP Gross margin of 46.7%; Non-GAAP Gross margin of 50.0%
· GAAP EPS of $(0.11); Non-GAAP EPS of $0.14
· GAAP Revenue and Non-GAAP Revenue of $1,743.2 million
· GAAP Gross margin of 45.0%; Non-GAAP Gross margin of 48.1%
· GAAP EPS of $(0.08); Non-GAAP EPS of $0.56
Milpitas, California, August 12, 2014 JDSU (NASDAQ: JDSU) today reported results for its fiscal fourth quarter and year ended June 28, 2014.
GAAP net revenue for fiscal 2014 fourth quarter was $448.6 million, with net loss of $(25.4) million, or $(0.11) per share. Prior quarter net revenue was $418.0 million, with net loss of $(1.5) million, or $(0.01) per share. Net revenue for fiscal 2013 fourth quarter was $421.3 million, with net income of $92.5 million, or $0.38 per share. Fiscal 2013 GAAP results include a fourth quarter $111.6 million tax benefit related to a release of deferred tax valuation allowances in foreign jurisdictions.
Non-GAAP net revenue for fiscal 2014 fourth quarter was $448.6 million, with non-GAAP net income of $34.2 million or $0.14 per share. Prior quarter non-GAAP net revenue was $418.0 million, with non-GAAP net income of $23.4 million, or $0.10 per share. Non-GAAP net revenue for fiscal 2013 fourth quarter was $421.3 million, with non-GAAP net income of $30.4 million, or $0.13 per share.
Fiscal 2014 concluded with a solid finish, with a book-to-bill ratio above one for the second quarter in a row, revenue and EPS exceeding guidance and a 15-year record high gross margin for JDSU at 50%, said Tom Waechter, JDSUs President and Chief Executive Officer. Looking ahead to fiscal 2015, we believe there are strong market drivers across our three business segments, and that we are well positioned with differentiated products and solutions to support our customers as they transition to Software Defined Networks (SDN), Network Function Virtualization (NFV) and more dependency on cloud infrastructure. We continue to lead in our core network and anti-counterfeiting markets and I am pleased with the momentum we are building in our commercial lasers business on the strength of our highly differentiated fiber laser product line.
GAAP net revenue for fiscal 2014 was $1,743.2 million, with net loss of $(17.8) million, or $(0.08) per share. GAAP net revenue for fiscal 2013 was $1,676.9 million, with net income of $57.0 million, or $0.24 per share.
Non-GAAP net revenue for fiscal 2014 was $1,743.2 million, with non-GAAP net income of $133.1 million, or $0.56 per share. Non-GAAP revenue for fiscal 2013 was $1,676.9 million, with non-GAAP net income of $131.8 million, or $0.55 per share.
Waechter added, We remain focused on driving shareholder value and leveraging our balance sheet as we generated $176.6 million in operating cash and repurchased $160 million in stock in fiscal 2014.
The tables below (in millions, except percentage data) provide comparisons of quarterly and annual results to prior periods, including sequential quarterly and year-over-year changes. A reconciliation between GAAP and Non-GAAP measures is contained in this release under the section titled Use of Non-GAAP (Adjusted) Financial Measures.
The following information was filed by Viavi Solutions Inc. (VIAV) on Tuesday, August 12, 2014 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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