The optical components provider reported Q1 revenues of $149 million, compared to the $154 million that marked the low end of its guidance issued back on July 31.
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The company has cited a number of reasons for the lower-than-expected revenues, including: weak market conditions, a slower-than-anticipated recovery of shares due to Thai flooding and a slow ramp of new products.
Also, this fiscal quarter was Oclaro’s first since acquiring Opnext on July 23 and investors must question whether the deal is encouraging customers to diversify.