JDSU recorded a net loss of $1.5 million for the quarter, which the company said was due to later-than-expected carrier orders. Revenues, however, were still up about 3% year-over-year to $418 million.
“Though the calendar year started off slower than expected, I am encouraged by our bookings performance, up 7.5% from the same quarter last year,” said Tom Waechter, president and CEO of JDSU, in a call with investors.
Asked about a similar occurence in late orders impacted results at this time last year, Waechter said that “it is becoming a trend.”
Last year, he said, orders were coming from one major North American operator and this year two operators had delays “that seemed to be around metro build-out” and impacts to the timing of orders.
“We overestimated what we would get in during the quarter and the timing of it coming in. I think in both years, they started some new programs, different programs, but new programs started in both of those early calendar years, which just didn’t happen as quickly as they anticipated or we anticipated. So I think that was the biggest part of it,” Waechter said.
Meanwhile, the most recent period was “another record bookings quarter for our location intelligent software solution and our largest order ever in the cable market for national automated monitoring of advanced cable services using our award-winning PathTrak system,” according to Waechter.
JDSU’s revenue segment breakdown was as following:
- Network and service enablement: $172.3 million, or 41.2% of revenue, which was down about 1% year-over-year
- Communications and commercial optical products: $194.6 million, almost 47% of revenue and up 8.6% year-over-year
- Optical security and performance products: $51.1 million, just over 12% of revenue for the quarter and down 1.5% year-over-year
JDSU expects non-GAAP net revenues for the next quarter to be between $425-$445 million.
