-=Oclaro (OCLR) to be acquired by Lumentum (LITE) for $9.99 per share

• Other leading optical stocks: AAOI +7.63% ACIA +5.40% NPTN +4.32% LITE +2.57% FNSR +2.72% IPHI +2.02% IIVI +1.56% VIAV +1.27% INFN +1.20% LPTH +0.86% COHR +1.01% CIEN +0.52% ADTN +0.61%

Oclaro to be acquired by Lumentum (LITE) for $9.99 per share 

• Lumentum Holdings (LITE) and Oclaro (OCLR) announced that the two companies have signed a definitive agreement, unanimously approved by the boards of directors of both companies, pursuant to which Lumentum will acquire all of the outstanding common stock of Oclaro.
• For each share of Oclaro stock held, Oclaro stockholders will be entitled to receive $5.60 in cash and 0.0636 of a share of Lumentum common stock, subject to the terms of the definitive agreement.
• The transaction values Oclaro at $9.99 per share or ~$1.8 billion in equity value, based on the closing price of Lumentum's stock on March 9, 2018, of $68.98.
• The transaction value represents a premium of 27% to Oclaro's closing price on March 9, 2018 and a premium of 40% to Oclaro's 30 day average closing price. Oclaro stockholders are expected to own approximately 16% of the combined company at closing.
• The transaction is expected to generate more than $60 million of annual run-rate synergies within 12 to 24 months of the closing and be immediately accretive to non-GAAP earnings per share.
• Lumentum intends to fund the cash consideration with a combination of cash on hand from the combined companies' balance sheets and $550 million in debt financing. The transaction is expected to close in the second half of calendar 2018, subject to approval by Oclaro's stockholders, antitrust regulatory approval in the US and China, and other customary closing conditions

=Oclaro (OCLR) reported earnings on Mon 5 Feb 2018 (a/h)

Oclaro is a US-based business manufacturing and selling optical components. Formerly listed on the London Stock Exchange and a constituent of the FTSE 100 Index, the company now trades on the NASDAQ.

• Headquarters: San Jose, CA
• Founded: 1988
• oclaro.com

Oclaro beats by $0.02, reports revs in-line; guides Q3 revs below consensus

• Reports Q2 (Dec) earnings of $0.14 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.12; revenues fell 9.5% year/year to $139.3 mln vs the $138.83 mln Capital IQ Consensus.
• Co issues downside guidance for Q3, sees Q3 revs of $120-128 mln vs. $132.77 mln Capital IQ Consensus Estimate.
  • Non-GAAP gross margin in the range of 34% to 37%.
  • Non-GAAP operating income in the range of $13 million to $17 million.
• "The December quarter results were in line with our expectations. While revenue declined from the prior quarter, the team again delivered strong gross margin, profitability and cash flow," said Greg Dougherty, Chief Executive Officer, Oclaro. "While we project March quarter revenue to be down sequentially, we anticipate another quarter of solid operating income. As the headwinds facing the industry begin to subside, and we ramp new products, our revenue is expected to resume growth in the June quarter."

Oclaro (OCLR) reported earnings on Wed 1 Nov 2017 (a/h)

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Oclaro beats by $0.02, reports revs in-line; guides Q2 revs below consensus 

• Reports Q1 (Sep) earnings of $0.20 per share, $0.02 better thanthe Capital IQ Consensus of $0.18; revenues rose 14.8% year/year to $155.6 mln vs the $154.51 mln Capital IQ Consensus.
• Co issues downside guidance for Q2, sees Q2 revs of $135-$143 mln vs. $158.78 mln Capital IQ Consensus Estimate.
  • Non-GAAP gross margin in the range of 36% to 39%.
  • Non-GAAP operating income in the range of $19 million to $23 million.
• "The Oclaro team once again produced strong quarterly results, fueled by our CFP2-ACO and QSFP product lines. We generated sequential revenue growth and strong profitability," said Greg Dougherty, Chief Executive Officer, Oclaro. "Our near-term visibility includes continued softness in China, compounded by a recent slowdown in data center sales. Despite our reduced outlook, we expect to remain solidly profitable for the December quarter, which would serve as a further testament to our strong financial model." 

Oclaro (OCLR) reported earnings on Tue 2 Aug 2016 (a/h)

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• 3 weeks later

Fiber-optic networking component vendor Oclaro (OCLR) this afternoon reported fiscal Q4 revenue and profit that topped analysts’ expectations, and beat comfortably with its Q1 revenue outlook, sending its shares sharply higher in late trading.

Revenue in the three months ended in June rose 24%, year over year, to $125.2 million, yielding EPS of 9 cents.

Analysts had been modeling $119.6 million in revenue and 6 cents EPS.

Gross profit margin, on a non-GAAP basis, was 32.4% in the quarter.

CEO Greg Dougherty remarked that it was an “all-time Oclaro record for gross margin and operating income,” calling the results “excellent.”

Dougherty credited the “strength of our 100G product line revenues,” and a “significant contribution from our CFP2-ACO product line.”