JDS Uniphase Reports First Quarter Results

NEPEAN, Ontario, Canada, Nov. 1 -- JDS Uniphase Corp. announced sales of $230 million and pro forma net income of $51 million, or 29 cents per diluted share, for its first quarter ended September 30, 1999. Sales for the quarter increased 20 percent over second quarter pro forma sales of $192 million, and 104 percent over pro forma combined sales of $113 million in the quarter ended September 30, 1998. Pro forma sales for earlier periods combine results of Uniphase and JDS FITEL Inc.; the merger of the two companies was accounted for as a purchase at the close of business on June 30, 1999.
JDS Uniphase noted that sales for the quarter reflected growth in the company's component and module business segments. The exceptional growth of the module business segment was attributed to implementation of the company's strategy of component integration into modules.