JDSU ups revenue, decreases loss in Q3
JDSU reported an increase in net revenue and a decrease in net loss for the company’s third quarter of 2008, ended March 29.
Net revenue for the quarter totaled $383.9 million, compared with $361.7 million in the third quarter of 2007 – an increase of about 6 percent.
And the company’s net loss in Q3 2008 was $6.2 million, or 3 cents per share, compared with a net loss of $14.2 million in Q3 2007 – a decrease of about 58 percent.
“Year-over-year financial performance improvements for the first three quarters of the fiscal year evidence significant improvement in JDSU’s business model,” said Kevin Kennedy, JDSU’s CEO. “Moving forward, we are making investments in the business to create additional operating leverage for the future.”
The company’s Communications Test and Measurement non-GAAP net revenue totaled $169.3 million, a decrease of 14 percent compared with the previous quarter’s $197.5 million, but an increase of 1 percent compared with the previous year’s Q3 non-GAAP net revenue of $167.4 million. The segment represented 44 percent of total fiscal Q3 non-GAAP net revenue, the company said.
American customers represented 52 percent of the company’s total non-GAAP net revenue. European and Asia-Pacific customers represented 29 percent and 19 percent of the company’s total non-GAAP net revenue, respectively.
For the fourth quarter of 2008, ending June 28, the company expects non-GAAP net revenue to be in the range of $381 million to $403 million.
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