Oclaro, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended July 2, 2016; Provides Earnings Guidance for the First Quarter Ending October 1, 2016
For the six months, the company reported revenues of $407,914,000 against $341,276,000 a year ago. Operating income was $15,842,000 against loss of $45,461,000 a year ago. Income before income taxes was $9,429,000 against loss of $47,906,000 a year ago. Income from continuing operations was $8,580,000 or $0.08 per basic and diluted share against loss of $48,234,000 or $0.45 per basic and diluted share a year ago. Net income was $8,580,000 or $0.08 per basic and diluted share against net loss of $56,692,000 or $0.52 per basic and diluted share a year ago. Non-GAAP operating income was $25,095,000 against loss of $38,408,000 a year ago. Adjusted EBITDA was $40,853,000 against LBITDA of $20,928,000 a year ago. Non-GAAP net income was $19,260,000 or $0.17 per basic and diluted share against loss of $40,787,000 or $0.38 per basic and diluted share a year ago.
The company provided earnings guidance for the first quarter ending October 1, 2016. Revenues are expected to be in the range of $126 million to $134 million. Non-GAAP gross margin expected to be in the range of 30% to 33%, non-GAAP operating income in the range of $12 million to $16 million.