Oclaro, Inc. – Nasdaq: OCLR
Oclaro, Inc. announced preliminary financial results after the market closed and shares are up over 8% on heavy volume. The San Jose, CA-based firm announced revenues at $153.5 – $154 million on prior guidance of $146 – $$154 million with gross margins of 40% versus prior guidance between 33% and 36%.
CEO Greg Dougherty commented in a press release – “Our excellent preliminary results for the December quarter once again demonstrated the strength of Oclaro’s products in the markets we serve. We expect revenue to come in at the high end of guidance as 100G and beyond sales again exhibited excellent growth. In addition, we expect the quarterly results to reflect record levels of gross margin and operating income and exceed our prior guidance. Our performance was driven by strong execution, a richer product mix, and favorable foreign exchange rates.”
Oclaro, Inc. develops optical components, modules, and subsystems for optical transport and metro networks, enterprise networks, and data centers. They trade on the Nasdaq under ticker OCLR. Ten firms follow Oclaro. Nine have rated OCLR shares as a “Strong Buy” and one rates OCLR as a “Hold”. The consensus price target is $11.
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|Last Price a/o 5:25 PM EST||$ 8.84|
|Average Volume||5.36 million|
|Market Cap||$1.36 Billion|
|Shares Outstanding||167.48 million|
|Share Float||157 million|
|Short Interest Ratio||2.98|