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/ CORRECTION - JDSU

MILPITAS, CA -- (Marketwire) -- 01/31/13 -- In the news release, "JDSU Announces Fiscal 2013 Second Quarter Results," issued Wednesday, January 30, 2013 by JDSU (NASDAQ: JDSU) (TSX: JDU), we are advised by the company that the press release has been corrected to:

a) reflect an increase to both total assets and total liabilities and shareholders' equity by $5.4 million on the Condensed Consolidated Balance Sheet as of December 29, 2012;
b) reflect an increase to GAAP and Non-GAAP Net revenue by $1.1 million for the second fiscal quarter ended December 29, 2012 as disclosed under the financial overview section; and
c) reflect an increase in GAAP and Non-GAAP operating margin by 0.1% for the second fiscal quarter ended December 29, 2012 as disclosed under the financial overview section.

Complete corrected text and tables follow.

JDSU Announces Fiscal 2013 Second Quarter Results

  • GAAP and Non-GAAP Revenue of $429.4 million
  • GAAP Gross margin of 44.0%; Non-GAAP Gross margin of 48.0%
  • GAAP EPS of $0.02; Non-GAAP EPS of $0.18

MILPITAS, CA -- January 30, 2013 -- JDSU (NASDAQ: JDSU) (TSX: JDU) today reported results for its second fiscal quarter ended December 29, 2012.

GAAP net revenue was $429.4 million with net income of $4.1 million, or $0.02 per share. Prior quarter net revenue was $420.9 million, with a net loss of $(11.6) million, or $(0.05) per share. Net revenue for the fiscal 2012 second quarter was $409.3 million, with a net income of $(10.2) million, or $(0.04) per share.

Non-GAAP net revenue was $429.4 million, with a net income of $42.3 million, or $0.18 per share. Prior quarter non-GAAP net revenue was $420.9 million, with net income of $35.0 million, or $0.15 per share. Non-GAAP net revenue for the fiscal 2012 second quarter was $409.6 million, with net income of $36.3 million, or $0.16 per share.

"JDSU delivered a strong fiscal Q2, with revenue at the top of our guidance range and operating margins exceeding expectations across all three business segments," said Tom Waechter, President and CEO of JDSU.

"We are pleased with the progress we've made in aligning our product portfolio with customer spending priorities, resulting in a high percentage of revenue from new products and a positive impact on financial results. We are well-positioned for growth opportunities in 2013."

Financial Overview - Second Fiscal Quarter Ended December 29, 2012


                                            GAAP Results
                        ---------------------------------------------------
                            Q2         Q1         Q2      Percentage Change
                         FY 2013    FY 2013    FY 2012     Q-T-Q     Y-T-Y
                        ---------  ---------  ---------  --------  --------
Revenue                 $   429.4  $   420.9  $   409.3       2.0%      4.9%
Gross margin                 44.0%      41.0%      42.6%      3.0       1.4
Operating margin              3.5%         -%       0.2%      3.4       3.3


                                          Non-GAAP Results
                        ---------------------------------------------------
                            Q2         Q1         Q2      Percentage Change
                         FY 2013    FY 2013    FY 2012     Q-T-Q     Y-T-Y
                        ---------  ---------  ---------  --------  --------
Revenue                 $   429.4  $   420.9  $   409.6       2.0%      4.8%
Adj. Gross margin            48.0%      45.8%      47.1%      2.2       0.9
Adj. Operating margin        11.4%       9.2%       9.8%      2.2       1.6


                                      Non-GAAP Results by Segment
                            -----------------------------------------------
                                                               Percentage
                               Q2     % of      Q1      Q2       Change
                            FY 2013 Revenue  FY 2013 FY 2012  Q-T-Q   Y-T-Y
                            ------- -------  ------- ------- ------  ------
Communications Test and
 Measurement                $ 195.4      46% $ 169.5 $ 196.2   15.3%  (0.4)%
Communications and
 Commercial Optical
 Products:
  Optical Communications      155.6            163.0   138.1   (4.5)   12.7
  Lasers                       30.2             31.9    25.1   (5.3)   20.3
                            -------          ------- -------
Communications and
 Commercial Optical
 Products                     185.8      43    194.9   163.2   (4.7)   13.8
Optical Security and
 Performance Products          48.2      11     56.5    50.2  (14.7)   (4.0)
                            ------- -------  ------- ------- ------  ------
Total                       $ 429.4     100% $ 420.9 $ 409.6    2.0%    4.8%
                            ------- -------  ------- ------- ------  ------

  • Americas, EMEA and Asia-Pacific represented 49.9%, 23.8% and 26.3%, respectively, of total net revenue for the quarter.
  • The Company held $740.2 million in cash and investments and generated $59.4 million of cash from operations for the quarter ended December 29, 2012.
  • The Company has adjusted its current and historical Consolidated Statements of Operations and segment financials to reflect the October 2012 sale of its holographic security business. This business' adjusted results are reflected as discontinued operations for the periods reported.

Business Outlook

For the third quarter of fiscal 2013, ending March 30, 2013, the Company expects non-GAAP net revenue to be $405 to $425 million.

Conference Call

The Company will discuss these results and other related matters at 2:00 p.m. Pacific Time on January 30, 2013 in a live webcast, which will also be archived for replay on the Company's website at www.jdsu.com/investors. The Company will post supporting slides outlining the Company's latest financial results concurrently with this earnings press release. They will be posted on www.jdsu.com/investors under the "Financial Information" section. This press release is being furnished as a Current Report on Form 8-K with the Securities and Exchange Commission, and will be available at www.sec.gov.

About JDSU

JDSU (NASDAQ: JDSU) (TSX: JDU) innovates and collaborates with customers to build and operate the highest-performing and highest-value networks in the world. Our diverse technology portfolio also fights counterfeiting and enables high-powered commercial lasers for a range of applications. Learn more about JDSU at www.jdsu.com and follow us on JDSU Perspectives, Twitter, Facebook and YouTube.

Forward-Looking Statements

This press release contains, and the discussions in our subsequent conference call will contain, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include: (i) any anticipation or guidance as to future financial performance, including future revenue, gross margin, operating expense, operating margin, cash flow and other financial metrics, and the impact and duration of certain market conditions; and (ii) the Company's beliefs regarding the purpose, usefulness and efficacy of non-GAAP results and the measures and items the Company includes in the same, as well as any benefits to investors the Company believes its non-GAAP measures provide. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. In particular, the Company's ability to predict future financial performance continues to be difficult due to, among other things: (a) continuing general limited visibility across many of our product lines, as well as the migration to vendor managed inventory programs; (b) quarter-over-quarter product mix fluctuations, which can materially impact profitability measures due to the broad gross margin range across our portfolio; (c) consolidation of our customer base, which, in the shorter term limits demand visibility, and in the longer term, could reduce our business potential; (d) continued decline of average selling prices across our businesses; (e) notable seasonality and a significant level of in-quarter book-and-ship business; (f) various product and manufacturing transfers, site consolidations and product discontinuances in which we are currently engaged, that have caused and may cause short term disruptions; (g) the ability of our suppliers and contract manufacturers to meet production and delivery requirements to our forecasted demand; and (h) inherent uncertainty related to global markets conditions and the effect of such conditions on demand for our products.

For more information on these and other risks affecting the Company's business, please refer to the "Risk Factors" section included in Part I, Item 1A of our Current Report on Form 8-K dated December 14, 2012 filed with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof and the Company assumes no obligation to update such statements.

The following financial tables are presented in accordance with GAAP, unless otherwise specified.


                         - SELECTED FINANCIAL DATA -

                          JDS UNIPHASE CORPORATION
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                    (in millions, except per share data)
                                 (unaudited)


                               Three Months Ended       Six Months Ended
                             ----------------------  ----------------------
                              December    December    December    December
                                 29,         31,         29,         31,
                                2012        2011        2012        2011
                             ----------  ----------  ----------  ----------
Net revenue                  $    429.4  $    409.3  $    850.3  $    825.1
Cost of sales                     225.8       219.4       457.0       439.3
Amortization of acquired
 technologies                      14.6        15.4        31.7        29.7
                             ----------  ----------  ----------  ----------
Gross profit                      189.0       174.5       361.6       356.1
                             ----------  ----------  ----------  ----------
Operating expenses:
  Research and development         63.5        58.9       125.1       118.2
  Selling, general and
   administrative                 105.4       105.3       210.1       215.6
  Amortization of other
   intangibles                      2.2         5.4         5.7        10.5
  Restructuring and related
   charges                          3.0         4.0         5.7         5.5
                             ----------  ----------  ----------  ----------
Total operating expenses          174.1       173.6       346.6       349.8
                             ----------  ----------  ----------  ----------
Income from continuing
 operations                        14.9         0.9        15.0         6.3
Interest and other income
 (expense), net                    (2.4)        1.0        (2.8)        2.0
Interest expense                   (5.1)       (6.6)      (11.2)      (13.2)
                             ----------  ----------  ----------  ----------
Income (loss) from
 continuing operations
 before income taxes                7.4        (4.7)        1.0        (4.9)
Provision for income taxes          4.1         3.0         7.5         6.4
                             ----------  ----------  ----------  ----------
Income (loss) from
 continuing operations, net
 of tax                             3.3        (7.7)       (6.5)      (11.3)
Income (loss) from
 discontinued operations,
 net of tax                         0.8        (2.5)       (1.0)       (4.7)
                             ----------  ----------  ----------  ----------
Net income (loss)            $      4.1  $    (10.2) $     (7.5) $    (16.0)
                             ==========  ==========  ==========  ==========

Basic net income (loss) per
 share from:
  Continuing operations      $     0.02  $    (0.03) $    (0.03) $    (0.05)
  Discontinued operations             -       (0.01)          -       (0.02)
                             ----------  ----------  ----------  ----------
  Net income (loss)          $     0.02  $    (0.04) $    (0.03) $    (0.07)
                             ==========  ==========  ==========  ==========
Diluted net income (loss)
 per share from:
  Continuing operations      $     0.02  $    (0.03) $    (0.03) $    (0.05)
  Discontinued operations             -       (0.01)          -       (0.02)
                             ----------  ----------  ----------  ----------
  Net income (loss)          $     0.02  $    (0.04) $    (0.03) $    (0.07)
                             ==========  ==========  ==========  ==========

Shares used in per share
 calculation:
  Basic                           234.4       229.4       233.6       228.9
  Diluted                         237.1       229.4       233.6       228.9


                          JDS UNIPHASE CORPORATION
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                          (in millions, unaudited)


                                                  December 29,    June 30,
                                                      2012          2012
                                                  ------------  ------------
ASSETS
Current assets:
  Cash and cash equivalents                       $      305.5  $      401.1
  Short-term investments                                 403.8         320.5
  Restricted cash                                         30.9          31.1
  Accounts receivable, net                               278.8         305.8
  Inventories, net                                       179.3         174.5
  Prepayments and other current assets                    78.4          77.2
                                                  ------------  ------------
    Total current assets                               1,276.7       1,310.2
                                                  ------------  ------------
Property, plant and equipment, net                       250.3         252.9
Goodwill                                                  75.3          68.7
Intangible assets, net                                   139.9         178.8
Other non-current assets                                  70.7          58.9
                                                  ------------  ------------
    Total assets                                  $    1,812.9  $    1,869.5
                                                  ============  ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable                                $      116.1  $      117.6
  Accrued payroll and related expenses                    80.1          68.6
  Income taxes payable                                    22.9          20.7
  Deferred revenue                                        59.9          81.2
  Accrued expenses                                        37.4          35.3
  Short-term debt                                        205.6         292.8
  Other current liabilities                               33.1          37.9
                                                  ------------  ------------
    Total current liabilities                            555.2         654.1
                                                  ------------  ------------
Other non-current liabilities                            192.5         176.6
    Total stockholders' equity                         1,065.2       1,038.8
                                                  ------------  ------------
      Total liabilities and stockholders' equity  $    1,812.9  $    1,869.5
                                                  ============  ============


                          JDS UNIPHASE CORPORATION
                       REPORTABLE SEGMENT INFORMATION
                          (in millions, unaudited)

Information on reportable segments is as follows (in millions):

                               Three Months Ended       Six Months Ended
                             ----------------------  ----------------------
                              December    December    December    December
                                 29,         31,         29,         31,
                                2012        2011        2012        2011
                             ----------  ----------  ----------  ----------

Net revenue:
  Communications Test and
   Measurement               $    195.4  $    196.2  $    364.9  $    381.4
  Communications and
   Commercial Optical
   Products                       185.8       163.2       380.7       343.5
  Optical Security and
   Performance Products            48.2        50.2       104.7       100.8
  Deferred revenue related
   to purchase accounting
   adjustment                         -        (0.3)          -        (0.6)
                             ----------  ----------  ----------  ----------
      Net revenue            $    429.4  $    409.3  $    850.3  $    825.1
                             ==========  ==========  ==========  ==========

Operating income (loss):
  Communications Test and
   Measurement               $     35.3  $     28.0  $     52.1  $     52.1
  Communications and
   Commercial Optical
   Products                        21.2        16.6        45.0        42.2
  Optical Security and
   Performance Products            16.2        16.8        37.4        34.5
  Corporate                       (23.7)      (21.4)      (46.8)      (42.4)
                             ----------  ----------  ----------  ----------
      Total segment
       operating income            49.0        40.0        87.7        86.4
  Unallocated amounts:
    Stock-based compensation      (13.6)      (12.3)      (26.2)      (23.8)
    Acquisition-related
     charges and
     amortization of
     intangibles                  (17.3)      (21.1)      (38.7)      (40.8)
    Loss on disposal of
     long-lived assets             (0.1)       (0.2)       (1.4)       (0.7)
    Restructuring and
     related charges               (3.0)       (4.0)       (5.7)       (5.5)
    Realignment and other
     charges                       (0.1)       (1.5)       (0.7)       (9.3)
    Interest and other
     income (expense), net         (2.4)        1.0        (2.8)        2.0
    Interest expense               (5.1)       (6.6)      (11.2)      (13.2)
                             ----------  ----------  ----------  ----------
  Income (loss) from
   continuing operations
   before income taxes       $      7.4  $     (4.7) $      1.0  $     (4.9)
                             ----------  ----------  ----------  ----------


Use of Non-GAAP (Adjusted) Financial Measures

The Company provides non-GAAP net revenue, non-GAAP net income (loss), non-GAAP net income (loss) per share, EBITDA and adjusted EBITDA financial measures as supplemental information regarding the Company's operational performance. The Company uses the measures disclosed in this release to evaluate the Company's historical and prospective financial performance, as well as its performance relative to its competitors. Specifically, management uses these items to further its own understanding of the Company's core operating performance, which the Company believes represents its performance in the ordinary, ongoing and customary course of its operations. Accordingly, management excludes from core operating performance items such as those relating to amortization of acquisition-related intangibles, stock-based compensation, restructuring and certain investing expenses and non-cash activities that management believes are not reflective of such ordinary, ongoing and customary course activities.

The Company believes providing this additional information to its investors allows investors to see Company results through the eyes of management. The Company further believes that providing this information allows Company investors to both better understand the Company's financial performance and, importantly, to evaluate the efficacy of the methodology and information used by management to evaluate and measure such performance.

The non-GAAP adjustments described in this release have historically been excluded by the Company from its non-GAAP financial measures. The non-GAAP adjustments, and the basis for excluding them, are outlined below.

Revenue from acquisition-related deferred revenue: The Company excludes the fair value adjustment to acquisition-related deferred revenue when calculating non-GAAP revenue. The Company believes non-GAAP revenue provides useful information for investors as they review for underlying trends in the business and facilitates the investors' comparisons of the Company's revenue performance to prior and future periods and to the Company's peers.

Cost of sales, costs of research and development and costs of selling, general and administrative: The Company GAAP presentation of gross margin and operating expenses may include (i) additional depreciation from changes in estimated useful life and the write-down of certain property and equipment that has been identified for disposal but remained in use until the date of disposal, (ii) workforce related charges such as severance, retention bonuses and employee relocation costs related to formal restructuring plan, (iii) costs for facilities not required for ongoing operations, and costs related to the relocation of certain equipment from these facilities and/or contract manufacturer facilities, (iv) stock-based compensation, and (v) other non-recurring charges comprising mainly of, one-time acquisition, integration, litigation and other costs and contingencies unrelated to current and future operations. The Company excludes these items in calculating non-GAAP gross margin, non-GAAP operating income, non-GAAP net income (loss), non-GAAP net income (loss) per share, EBITDA and adjusted EBITDA. The Company believes excluding these items enables investors to evaluate more clearly and consistently the Company's core operational performance.

Amortization of intangibles from acquisitions: The Company includes amortization expense related to intangibles from acquisitions in its GAAP presentation of cost of sales and operating expense. The Company excludes these significant non-cash items in calculating non-GAAP gross margin, non-GAAP operating income, non-GAAP net income (loss), non-GAAP net income (loss) per share, EBITDA and adjusted EBITDA because it believes doing so provides investors a clearer and more consistent view of the Company's core operating performance in terms of cost of sales and operating expenses.

Other income (loss), net and non-cash interest expense: The Company incurred a loss in connection with repurchasing certain of its 1% Senior Convertible Notes which was recorded in interest and other (income), net in compliance with the authoritative guidance. The Company also incurred non-cash interest expense accounted for under the authoritative guidance on convertible debt instruments, which requires the Company to separately account for the liability (debt) and equity (conversion option) components of such instruments. The Company eliminates these items in calculating non-GAAP net income (loss), non-GAAP net income (loss) per share, EBITDA and adjusted EBITDA, because it believes that in so doing, it can provide investors a clearer and more consistent view of the Company's core operating performance.

Gain or loss on sale of available for-sale investments: The Company has sold investments or adjusted the value of investments from time to time based on market conditions, and includes the impact of these activities in its GAAP presentation of net income (loss) and net income (loss) per share. The Company's core business does not include making financial investments in third parties, and such investments do not constitute a material portion of the Company's assets. Moreover, the amount and timing of gains and losses and adjustments to the value of investments are unpredictable. Consequently, the Company excludes these items in calculating non-GAAP net income (loss), non-GAAP net income (loss) per share, EBITDA and adjusted EBITDA because it believes gains or losses on these sales and adjustments to the value of investments are not related to the Company's ongoing core business and operating performance.

Discontinued operations: The Company has adjusted its current and historical Consolidated Statements of Operations and segment financials to reflect the October 2012 sale of its holographic security business. This business' adjusted results are reflected as discontinued operations for the periods reported in the Company's GAAP consolidated statement of operations. The Company excluded the results of discontinued operations in calculating non-GAAP net income (loss), non-GAAP net income (loss) per share, EBITDA and adjusted EBITDA for all periods reported. The Company believes excluding these items enables investors to evaluate more clearly and consistently the Company's core operational performance.

Interest, taxes, depreciation, amortization and other adjustments: The Company's EBITDA calculation excludes interest, taxes, depreciation and amortization, and other items that are not part of its core operating performance described above. Management believes adjusted EBITDA is a good indicator of the Company's core operational cash flow.

Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States. The GAAP measure most directly comparable to non-GAAP net income (loss) is net income (loss). The GAAP measure most directly comparable to non-GAAP net income (loss) per share is net income (loss) per share. The Company believes these GAAP measures alone are not indicative of its core operating expenses and performance.

The following tables reconcile GAAP measures to non-GAAP measures:


                          JDS UNIPHASE CORPORATION
            RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
                    (in millions, except per share data)
                                 (unaudited)

                                               Three Months Ended
                                     -------------------------------------
                                        December 29,       December 31,
                                            2012               2011
                                     ------------------ ------------------
                                        Net                Net
                                      income    Diluted  income    Diluted
                                      (loss)      EPS    (loss)      EPS
                                     --------  -------- --------  --------
GAAP measures                        $    4.1  $   0.02 $  (10.2) $  (0.04)
  Items reconciling GAAP net income
   (loss) & EPS to Non-GAAP net
   income & EPS:

  Related to net revenues:
    Deferral of revenues related to
     purchase accounting                    -         -      0.3         -

  Related to cost of sales:
    Stock-based compensation
     expenses                             2.1      0.01      1.5      0.01
    Other non-recurring charges           0.5         -      1.2      0.01
    Amortization of acquired
     developed technologies              14.6      0.06     15.4      0.07
                                     --------  -------- --------  --------
  Total related to gross profit          17.2      0.07     18.4      0.09
                                     --------  -------- --------  --------

  Related to operating expenses:
    Research and development:
      Stock-based compensation
       expenses                           3.4      0.01      3.1      0.01
    Selling, general and
     administrative:
      Stock-based compensation
       expenses                           8.1      0.03      7.7      0.03
      Other non-recurring charges         0.1         -      0.3         -
    Amortization of intangibles           2.2      0.01      5.4      0.02
    Loss on disposal of long-lived
     assets                               0.1         -      0.2         -
    Restructuring and related
     charges                              3.0      0.01      4.0      0.02
                                     --------  -------- --------  --------
  Total related to operating
   expenses                              16.9      0.06     20.7      0.08
                                     --------  -------- --------  --------

  Interest and other income
   (expense), net                         1.3      0.01        -         -
  Non-cash interest expense               3.6      0.02      5.0      0.02
  (Gain) on sale of investments             -         -     (0.1)        -
  Discontinued operations                (0.8)        -      2.5      0.01
                                     --------  -------- --------  --------
  Total related to net income & EPS      38.2      0.16     46.5      0.20
                                     --------  -------- --------  --------
Non-GAAP measures                    $   42.3  $   0.18 $   36.3  $   0.16
                                     ========  ======== ========  ========


                                                Six Months Ended
                                    ---------------------------------------
                                       December 29,         December 31,
                                           2012                 2011
                                    ------------------  -------------------
                                       Net                 Net
                                     income    Diluted   income    Diluted
                                     (loss)      EPS     (loss)      EPS
                                    --------  --------  --------  ---------
GAAP measures                       $   (7.5) $  (0.03) $  (16.0) $   (0.07)
  Items reconciling GAAP net income
   (loss) & EPS to Non-GAAP net
   income & EPS:

  Related to net revenues:
    Deferral of revenues related to
     purchase accounting                   -         -       0.6          -

  Related to cost of sales:
    Stock-based compensation
     expenses                            4.3      0.02       3.3       0.01
    Other non-recurring charges          1.3      0.01       1.2       0.01
    Amortization of acquired
     developed technologies             31.7      0.13      29.7       0.13
                                    --------  --------  --------  ---------
  Total related to gross profit         37.3      0.16      34.8       0.15
                                    --------  --------  --------  ---------

  Related to operating expenses:
    Research and development:
      Stock-based compensation
       expenses                          6.3      0.03       5.7       0.02
    Selling, general and
     administrative:
      Stock-based compensation
       expenses                         15.6      0.07      14.8       0.07
      Other non-recurring charges        0.7         -       8.1       0.04
    Amortization of intangibles          5.7      0.02      10.5       0.05
    Loss on disposal of long-lived
     assets                              1.4      0.01       0.7          -
    Restructuring and related
     charges                             5.7      0.02       5.5       0.02
                                    --------  --------  --------  ---------
  Total related to operating
   expenses                             35.4      0.15      45.3       0.20
                                    --------  --------  --------  ---------

  Interest and other income
   (expense), net                        3.4      0.01         -          -
  Non-cash interest expense              7.8      0.04       9.9       0.04
  (Gain) on sale of investments         (0.1)        -      (1.2)     (0.01)
  Discontinued operations                1.0         -       4.7       0.02
                                    --------  --------  --------  ---------
  Total related to net income & EPS     84.8      0.36      93.5       0.40
                                    --------  --------  --------  ---------
Non-GAAP measures                   $   77.3  $   0.33  $   77.5  $    0.33
                                    ========  ========  ========  =========


                          JDS UNIPHASE CORPORATION
         RECONCILIATION OF GAAP NET REVENUE TO NON-GAAP NET REVENUE
                          (in millions, unaudited)

                                   Three Months Ended     Six Months Ended
                                 --------------------- ---------------------
                                  December   December   December   December
                                     29,        31,        29,        31,
                                    2012       2011       2012       2011
                                 ---------- ---------- ---------- ----------
GAAP net revenue                 $    429.4 $    409.3 $    850.3 $    825.1
  Deferral of revenues related
   to purchase accounting
   adjustment                             -        0.3          -        0.6
                                 ---------- ---------- ---------- ----------
Non-GAAP net revenue             $    429.4 $    409.6 $    850.3 $    825.7
                                 ========== ========== ========== ==========


                          JDS UNIPHASE CORPORATION
        RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA
                          (in millions, unaudited)

                               Three Months Ended       Six Months Ended
                             ----------------------  ----------------------
                              December    December    December    December
                                 29,         31,         29,         31,
                                2012        2011        2012        2011
                             ----------  ----------  ----------  ----------
GAAP net income (loss) from
 continuing operations       $      3.3  $     (7.7) $     (6.5) $    (11.3)
  Interest and other income
   (expense), net                   2.4        (1.0)        2.8        (2.0)
  Interest expense                  5.1         6.6        11.2        13.2
  Provision for income taxes        4.1         3.0         7.5         6.4
  Depreciation                     16.9        17.1        33.8        34.2
  Amortization                     16.8        20.8        37.4        40.2
                             ----------  ----------  ----------  ----------
EBITDA                             48.6        38.8        86.2        80.7
                             ----------  ----------  ----------  ----------
  Costs related to
   restructuring and related
   charges                          3.0         4.0         5.7         5.5
  Costs related to stock
   based compensation
   expense                         13.6        12.3        26.2        23.8
  Purchase accounting
   adjustment                       0.5         0.3         1.3         0.6
  Costs related to other
   non-recurring activities         0.1         1.5         0.7         9.3
  Loss on disposal of long-
   lived assets                     0.1         0.2         1.4         0.7
                             ----------  ----------  ----------  ----------
Adjusted EBITDA              $     65.9  $     57.1  $    121.5  $    120.6
                             ==========  ==========  ==========  ==========

Note: Certain totals may not add due to rounding

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@ThingsExpo Stories
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Judith Hurwitz is president and CEO of Hurwitz & Associates, a Needham, Mass., research and consulting firm focused on emerging technology, including big data, cognitive computing and governance. She is co-author of the book Cognitive Computing and Big Data Analytics, published in 2015. Her Cloud Expo session, "What Is the Business Imperative for Cognitive Computing?" is scheduled for Wednesday, June 8, at 8:40 a.m. In it, she puts cognitive computing into perspective with its value to the busin...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...