Free Post Earnings Research Report: Oclaro’s Quarterly Earnings Beat Expectations

Stock Monitor: Universal Display Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 28, 2018 / Active-Investors.com has just released a free earnings report on Oclaro, Inc. (NASDAQ: OCLR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=OCLR. Oclaro reported its second quarter fiscal 2018 operating and financial results on February 05, 2018. The leading provider and innovator of optical communications solutions provided guidance for the upcoming quarter. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Universal Display Corporation (NASDAQ: OLED), which also belongs to the Technology sector as the Company Oclaro. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Oclaro most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=OCLR

Earnings Highlights and Summary

For the quarter ended December 30, 2017, Oclaro’s revenues were $139.34 million compared to revenues of $153.91 million in Q2 FY17. The Company’s reported numbers fell short of analysts’ estimates of $141.1 million.

During Q2 FY18, Oclaro’s sales from a 100 gig and above products decreased $20 million from the prior quarter to $105.4 million. In the reported quarter, sales of the Company’s 10 and 25 gig products grew 13% over the prior quarter and contributed $34 million, or 24% of revenues.

During Q2 FY18, Oclaro’s GAAP gross margin was 37.2% compared to GAAP gross margin of 39.5% in Q2 FY17. The Company’s reported quarter non-GAAP gross margin was 38.4% versus non-GAAP gross margin of 39.8% in the year earlier corresponding quarter.

For Q2 FY18, Oclaro’s GAAP operating income was $19.3 million compared to GAAP operating income of $33.4 million in Q2 FY17. The Company’s non-GAAP operating income was $24.5 million for the reported quarter versus non-GAAP operating income of $36.2 million in the prior year’s same quarter.

Oclaro’s GAAP net income was $18.7 million, or $0.11 per share, in Q2 FY18 compared to GAAP net income of $30.3 million, or $0.18 per share, in Q2 FY17. The Company’s reported quarter non-GAAP net income was $23.1 million, or $0.14 per share, compared to GAAP net income of $36.3 million, or $0.21 per share, in the prior year’s same quarter. Oclaro’s earnings beat Wall Street’s estimates of $0.13 per share.

Cash Matters

Oclaro’s cash, cash equivalents, and short-term investments were $290.1 million at December 30, 2017, reflecting an increase of 10 million over the prior quarter. The improvement in cash was driven by adjusted EBITDA, mostly offset by the funding of Capital expenditure (CapEx) and working capital. The Company is estimating CapEx in the range of 55 million to 65 million for the fiscal year 2018.

Outlook

For the quarter ending March 31, 2018, Oclaro is forecasting revenues in the range of $120 million to $128 million. The Company is estimating non-GAAP gross margin in the range of 34% to 37% and non-GAAP operating income in the band of $13 million to $17 million.

Stock Performance Snapshot

February 27, 2018 – At Tuesday’s closing bell, Oclaro’s stock slightly dropped 0.83%, ending the trading session at $7.15.

Volume traded for the day: 2.82 million shares.

Stock performance in the last month – up 16.64%; previous three-month period – up 1.49%; and year-to-date – up 6.08%

After yesterday’s close, Oclaro’s market cap was at $1.21 billion.

Price to Earnings (P/E) ratio was at 8.73.

The stock is part of the Technology sector, categorized under the Semiconductor Equipment & Materials industry.

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