JDSU impeded by economy
JDSU reported lower revenue and a larger net loss for its third fiscal quarter, ended March 28.
Net revenue was $280.6 million, down from revenue of $383.9 million in the like period a year ago. The company had a deficit of $85.2 million, compared with a loss of $6.2 million a year ago. The recent loss was expanded by a $45 million charge, for impairment of goodwill. The rest was chalked up to the economy.
All of the company’s segments – Communications T&M, Communications & Commercial Optical Products, Optical Communications, Commercial Lasers – experienced decreasing sales.
“We generated positive free cash flow and fortified our balance sheet during these challenging economic times,” said Tom Waechter, JSDU’s president and CEO.
For the fourth quarter of fiscal 2009, ending June 27, JDSU expects revenue to be in the range of $265 million to $285 million.