Oclaro Posts Loss, Details Soft Q1 Revenue Outlook; Stock Down

(RTTNews) - Oclaro Inc. (OCLR), a provider of optical communications solutions, Monday reported fourth-quarter net loss of $47.4 million or $0.52 per share. In the sequential third quarter, the company had posted a net loss of $40 million or $0.44 per share.

Results for the recent quarter included $19 million of flood-related income due to the flooding in Thailand, and $26.7 million for impairment of goodwill and intangible assets.

Excluding items, loss for the recent quarter would have been $30.3 million or $0.33 per share. Analysts polled by Thomson Reuters expected a loss of $0.36 per share. Analysts' estimates typically exclude special items.

The San Jose, California-based company posted quarterly revenue of $136 million, down from $141.6 million in the sequential third quarter. Analysts expected revenue of $136.75 million.

"While results were in line with our expectations, the continued losses underscore the urgency of our turnaround plans. We remain focused on transforming Oclaro into a sustainable company that will deliver shareholder value over the long-term," said CEO Greg Dougherty,

Looking into the first quarter, Oclaro expects revenue of $134 million to $138 million, while analysts estimate $137.04 million.

Shares of Oclaro closed Monday at $1.64, down $0.01 or 0.61%, on a volume of 4.7 million shares on the Nasdaq. In after hours, the stock dropped $0.09 or 5.49%.