Oclaro, Inc. (NASDAQ:OCLR) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 15.44%.
Oclaro, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.37 in the quarter versus EPS of $-0.31 in the year-earlier quarter.
Revenue: Rose 59.67% to $141.64 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Oclaro, Inc. reported adjusted EPS loss of $0.37 per share. By that measure, the company missed the mean analyst estimate of $-0.31. It missed the average revenue estimate of $148.14 million.
Quoting Management: “Our financial results were at the lower end of guidance for the third quarter, in the face of continued softness in the telecommunications market. Our sales declined further than expected, which drove a higher loss compared with the prior quarter,” said Alain Couder, president and CEO, Oclaro, Inc. “The financing we announced today is an initial step in our plan to simplify the company and develop and implement a profitable operating model. Meanwhile our new product innovations continue. At the recent OFC trade show Oclaro reinforced its position as a leader in the high growth 100G market, both on the telecom line side and the datacom client side.”
Key Stats (on next page)…