Though many optical component names are following Fabrinet higher, Oclaro (OCLR -13.7%) is selling off after reporting FQ1 revenue of $148.8M (+43% Y/Y, boosted by Opnext acquisition) and EPS of -$0.39 - the latter missed by $0.10. An 800 bps Q/Q drop in gross margin to 13% didn't help. FQ1 guidance is for revenue of $145M-$162M (below a $170M consensus) and gross margin of 12%-18%. Oclaro noted on its earnings call European and Asian demand is weak, and that results were affected by execution and Opnext integration challenges.
Though many optical component names are following Fabrinet higher, Oclaro (OCLR -13.7%) is...
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