=Finisar (FNSR) to receive $390 mln as part of Apple's advanced manufacturing fund

Finisar is a manufacturer of optical communication components and subsystems. In 2008, Finisar merged with Optium Corporation.

• Headquarters: Sunnyvale, CA
• finisar.com
• Face ID tech company

• LITE also makes VCSELs for 3D sensing. IIVI is also in the space.

Finisar to receive $390 mln as part of Apple's advanced manufacturing fund  

Apple (AAPL) announced the latest award from its $1 billion Advanced Manufacturing Fund. Finisar, a leading manufacturer of optical communications components, will receive $390 million as part of Apple's commitment to support innovation and job creation by American manufacturers.

• As a result of Apple's commitment, Finisar will transform a long-shuttered, 700,000-square-foot manufacturing plant in Sherman, Texas, into the high-tech VCSEL capital of the US.

The award will enable Finisar (FNSR) to exponentially increase its R&D spending and high-volume production of vertical-cavity surface-emitting lasers (VCSELs). VCSELs power some of Apple's most popular new features, including Face ID, Animoji and Portrait mode selfies made possible with the iPhone X TrueDepth camera, as well as the proximity-sensing capabilities of AirPods.

VCSEL technology is a better performing, more compact and cost-efficient solution compared to traditional edge-emitting lasers for many emerging applications. Apple has rapidly adopted depth-sensing technology in recent years, leading to the development and production of the most advanced VCSELs used in the history of consumer electronics. In the fourth quarter of 2017, Apple will purchase 10 times more VCSEL wafers than were previously manufactured worldwide over a similar time period.

Description

Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company's optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks. These products rely on the use of semiconductor lasers and photodetectors in conjunction with integrated circuits and optoelectronic packaging to provide a means for transmitting and receiving digital signals over fiber optic cable at speeds ranging from less than one gigabit per second (Gbps), to more than 100 Gbps, over distances of less than 10 meters to more than 2,000 kilometers, using a range of network protocols and physical configurations.

Key stats and ratios

	Q4 (Oct '17)	2017
Net profit margin	1.76%	17.20%
Operating margin	2.85%	12.20%
EBITD margin	-	18.77%
Return on average assets	0.90%	11.92%
Return on average equity	1.45%	18.26%
Employees	14,000