JDS Sales down 45% and falling
JDS Uniphase posted revenues for its fiscal first quarter 2002 of $329 million, 45% lower than fourth quarter 2001, while at the same time predicting that its sales would continue to fall.
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On a pro forma basis, which includes the cost of the company’s reorganization and write-downs of obsolete inventory, the company reported a loss of $260 million, or 20 cents per share. Including all items and charges, the company’s loss totaled $1.2 billion, or 93 cents per share.
As a result of its disappointing first quarter results, JDS Uniphase is predicting its sales for the second quarter will be down about 10% to 15% sequentially, resulting in an expected pro forma loss of one cent to two cents per share.
--Toby Weber, staff writer
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© 2012 Penton Media Inc.
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