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  • bluecheese4u bluecheese4u Aug 14, 2012 4:40 PM Flag

    JDSU Announces Fiscal 2012 Fourth Quarter and Year End Results

    JDSU Announces Fiscal 2012 Fourth Quarter and Year End Results

    Q412 Earnings Supplementary Slides

    Aug 14, 2012 (Marketwire via COMTEX) --(NASDAQ: JDSU) (TSX: JDU)

    Fourth Quarter

    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

    Fiscal 2012

    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

    JDSU (NASDAQ: JDSU) (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.

    "JDSU's execution on its strategic priorities is leading to market share gains and financial leverage despite challenging economic conditions," said Tom Waechter, JDSU's 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.
    Communications Test and

    http://phx.corporate-ir.net/phoenix.zhtml?c=105112&p=irol-newsArticle&ID=1725714&highlight=

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