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In a release dated August 6, the company stated: - Revenue for the fourth quarter was $32.4 million, up from revenue of $30.8 million reported for the third quarter of fiscal 2009. GAAP net income for the quarter was $249,000, or $0.01 per diluted share. This compares to a GAAP net loss of $114,000, or $(0.01) per share, reported for the third quarter of fiscal 2009. - Non-GAAP net income for the fourth quarter was $3.1 million, or $0.15 per diluted share, which excludes $1.2 million in stock-based compensation, $952,000 in amortization of intangibles and $725,000 in loss on sale of assets. This compares to non-GAAP net income of $2.1 million, or $0.10 per diluted share, reported for the prior quarter. - Oplink closed fiscal year 2009 with cash, cash equivalents, and short and long-term investments of $168.7 million, an increase of $11.5 million over the prior quarter. - Total revenue for fiscal year 2009 was $143.7 million, compared to revenue of $176.3 million reported in fiscal 2008. GAAP net loss for the year was $13.8 million, or $(0.67) per share. This compares to a GAAP net loss of $6.8 million, or $(0.31) per share, reported for fiscal year 2008. - Non-GAAP net income for fiscal year 2009 was $11.0 million, or $0.52 per diluted share, which excludes $5.4 million in stock-based compensation, $3.8 million in amortization of intangibles, $4.1 million in provision for excess and obsolete inventory, $10.8 million in impairment charge and other costs and $725,000 in loss on sale of assets. This compares to non-GAAP net income of $13.9 million, or $0.63 per diluted share, reported for the prior year. "Reacting to the market downturn, Oplink has successfully executed plans to enhance our competitiveness," said Joe Liu, President and CEO of Oplink. "We have focused on improving our global operational efficiencies and cost structure, and we are selectively investing in next-generation platform technology upgrades. Although order visibility is still somewhat limited, we believe that with existing lean inventory levels at our customers, modest growth in telecommunications spending and upside potential from new design wins, we are poised to gain additional market share." ((Comments on this story may be sent to newsdesk@closeupmedia.com)) For full details on Oplink Communications (OPLK) click here. Oplink Communications (OPLK) has Short Term PowerRatings of 3. Details on Oplink Communications (OPLK) Short Term PowerRatings is available at This Link.
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