Visitors Now:
Total Visits:
Total Stories:
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Oclaro surge continues as customers crave speed

Wednesday, November 2, 2016 8:53
% of readers think this story is Fact. Add your two cents.

(Before It's News)

A warm response to its first quarter results sent shares in Oclaro (NASDAQ:OCLR) sharply higher.

The California-based fibre optics group posted underlying earnings 40% ahead of consensus forecasts at 14c.

Sales rose to US$135.5mln (US$87.6mln) with margins also higher as customers clamoured for faster connectivity speeds.

Greg Dougherty, chief executive, said demand for its 100G products in China and from data centres had driven the improvement.

“Based on the projected growth prospects for the data center, China and Metro markets, we expect customer demand for our highly differentiated 100G and beyond portfolio to remain strong in fiscal 2017.”

Oclaro designs and manufactures modules and devices for faster computer connectivity, data transport, and increased bandwidth. 

For the second quarter Oclaro forecast revenuers would rise to between US$146-154mln, also above previous forecasts.

Broker PiperJaffray raised its price target to US$13.50 per share, saying Oclaro has a big lead on the competition at present.

Shares have more than doubled this year and added a further 9% to US$8 today.

Story by ProactiveInvestors

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.