JDS Uniphase Announces Preliminary 4thQ Results
NEPEAN, Ontario, Canada, July 20 -- JDS Uniphase Corp. announced preliminary results for Uniphase Corp.'s fourth quarter ended June 30, 1999. Subject to final review, audit and confirmation, Uniphase expects to report sales of $86 to $87 million and a loss of approximately $3.65 per share for the quarter. The loss per share includes a one-time charge of $177 million for acquired in-process research and development and $.5 million in restructuring charges, both resulting from the company's merger with JDS Fitel, as well as $4 million in intangibles amortization. Excluding these charges, estimated pro forma earnings for the quarter were $0.40 to $0.41 per share.
JDS Uniphase also announced estimated pro forma results combining those of JDS Fitel for the quarter ended May 31, 1999 and those of Uniphase Corp. for the quarter ended June 30, 1999, both periods ending prior to the June 30, 1999 merger. These estimated pro forma combined results of JDS Uniphase included sales of $188 to $190 million and earnings of $0.45 to $0.46 per share on a diluted basis, after excluding the charges totaling approximately $181 million as described above.
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