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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
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater.
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...