Oclaro, Inc. reported unaudited consolidated earnings results for the second quarter ended December 31, 2017. For the quarter, the company reported revenues of $139,335,000 compared to $153,914,000 a year ago. Operating income was $19,255,000 compared to $33,402,000 a year ago. Income before income taxes was $21,913,000 compared to $30,304,000 a year ago. Net income was $18,737,000 or $0.11 per basic and diluted share compared to $30,267,000 or $0.18 per basic and diluted share a year ago. Non-GAAP operating income was $24,486,000 compared to $36,240,000 a year ago. Non-GAAP net income was $23,120,000 or $0.14 per diluted share compared to $36,295,000 or $0.21 per diluted share a year ago. Adjusted EBITDA was $31,830,000 compared to $41,175,000 a year ago.

The company provided earnings guidance for the third quarter ending March 31, 2018. For the quarter, the company expects revenues in the range of $120 million to $128 million. The company expects non-GAAP gross margin in the range of 34% to 37%, and non-GAAP operating income in the range of $13 million to $17 million. The company continue to expect CapEx in the range of $55 million to $65 million for the fiscal year with an exit rate in June of approximately $10 million per quarter.