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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
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 Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment. Leveraging technologies proven in the Carrier and Enterprise markets, IStaX is designed to work ac...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world. The next @ThingsExpo will take place November 4-6, 2014, at the Santa Clara Convention Center, in Santa Clara, California. Since its launch in 2008, Cloud Expo TV commercials have been aired and CNBC, Fox News Network, and Bloomberg TV. Please enjoy our 2014 commercial.
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Located in booth #314, the Bsquare team will present DataV demos and discuss how DataV will help customers put their data to work to improve business outcomes. DataV is unlocking new initiatives across a wide landscape of customers in industries such as industrial manufacturing, transportation, retail and mobile. The solution is designed to complement a new project start or help to enrich an existing machine investment.