Oclaro (OCLR) reported earnings on Wed 1 Nov 2017 (a/h)

** charts before earnings **

 

** charts after earnings **

 

Oclaro beats by $0.02, reports revs in-line; guides Q2 revs below consensus 

• Reports Q1 (Sep) earnings of $0.20 per share, $0.02 better thanthe Capital IQ Consensus of $0.18; revenues rose 14.8% year/year to $155.6 mln vs the $154.51 mln Capital IQ Consensus.
• Co issues downside guidance for Q2, sees Q2 revs of $135-$143 mln vs. $158.78 mln Capital IQ Consensus Estimate.
  • Non-GAAP gross margin in the range of 36% to 39%.
  • Non-GAAP operating income in the range of $19 million to $23 million.
• "The Oclaro team once again produced strong quarterly results, fueled by our CFP2-ACO and QSFP product lines. We generated sequential revenue growth and strong profitability," said Greg Dougherty, Chief Executive Officer, Oclaro. "Our near-term visibility includes continued softness in China, compounded by a recent slowdown in data center sales. Despite our reduced outlook, we expect to remain solidly profitable for the December quarter, which would serve as a further testament to our strong financial model."