Oclaro, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended July 2, 2016. For the quarter, the company reported revenues of $125,185,000 against $82,192,000 a year ago. Operating income was $12,803,000 against loss of $10,810,000 a year ago. Income before income taxes was $10,333,000 against loss of $13,920,000 a year ago. Income from continuing operations was $11,844,000 or $0.09 per diluted share against loss of $13,869,000 or $0.13 per basic and diluted share a year ago. Net income was $11,844,000 or $0.09 per diluted share against loss of $13,869,000 or $0.13 per basic and diluted share a year ago. Non-GAAP operating income was $14,867,000 against loss of $5,426,000 a year ago. Adjusted EBITDA was $19,176,000 against LBITDA of $1,188,000 a year ago. Non-GAAP net income was $15,118,000 or $0.11 per diluted share against loss of $6,634,000 or $0.06 per basic and diluted share a year ago.

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.