Oclaro slides 14.5% as revenue guidance falls short – Oclaro, Inc. (NASDAQ:OCLR)

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Oclaro (OCLR -Three%) is 14.5% decrease in after-hours commerce after a fiscal Q1 earnings beat that featured draw back steerage for the present quarter.

“Our near-term visibility includes continued softness in China, compounded by a recent slowdown in data center sales,” says CEO Greg Dougherty. “Despite our reduced outlook, we expect to remain solidly profitable for the December quarter, which would serve as a further testament to our strong financial model.”

Net earnings rose to $34.5M from $33.9M final quarter and $20M a yr in the past. Gross margin rose to 40.6% from a year-ago 34.four%.

Cash, equivalents, restricted money and short-term investments got here to $279.8M as of Sept. 30.

For its Q2, it is guiding to revenues of $135M-$143M, properly under consensus for $158.8M; non-GAAP gross margin of 36-39%; and non-GAAP working earnings of $19M-$23M.

Press Release

SeekingAlpha
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