Oclaro beats by $0.03, reports revs in-line; guides Q1 revs in-line
Reports Q4 (Jun) earnings of $0.20 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.17; revenues rose 19.3% year/year to $149.38 mln vs the $148.04 mln Capital IQ Consensus.
Non-GAAP gross margin was 41.4% for the fourth quarter of fiscal 2017. This compares with non-GAAP gross margin of 41.6% in the third quarter of fiscal 2017, and non-GAAP gross margin of 32.4% in the fourth quarter of fiscal 2016.
Co issues in-line guidance for Q1, sees Q1 revs of $151-159 mln vs. $154.08 mln Capital IQ Consensus Estimate.
"Our fourth quarter revenue, which reflected the anticipated impact of softness in China, was in line with our expectations. While revenue declined, we once again delivered very strong gross margin and operating profits. As we enter fiscal year 2018, we expect to see continued high demand for our 100G and beyond products in the Data Center and Metro Markets. We also expect to be able to maintain our strong margin performance in fiscal 2018,"