JDS Uniphase writes off another $5.3b

Fiber-optic components manufacturer JDS Uniphase today said it will write down another $5.3 billion of goodwill in addition to the massive non-cash $44.8 billion write-off the company posted in July. At the end of June, JDS had $12.5 billion in goodwill on its books.

The company said it will record $4.2 billion toward its fourth fiscal quarter ended June 30 and $1.1 billion for the third quarter, which ended March 31. In July, JDS wrote down a whopping $38.7 billion from the third quarter and $6.1 billion from the fourth quarter.

JDS is cleansing its balance sheet of intangibles that resulted from an acquisition spree it--and other companies such as Nortel Networks, Cisco Systems and Lucent Technologies--went on in 1999 and 2000 using high-flying shares to purchase start-ups. The bulk of the goodwill total comes from its $41 billion purchase of SDL but also reflects its E-Tek and Optical Coating Laboratory buys, as well the 1999 merger of JDS Fitel and Uniphase.

--Chris Sewell, staff writer