JDS Uniphase Announces First Quarter Results

NEPEAN, Ontario, Oct. 30 -- JDS Uniphase Corp., supplier of active and passive components and modules, test instruments, interconnect products, and commercial lasers, reported sales of $786 million and pro forma net income of $177 million, or $0.18 per diluted share, for its first three months ended September 30. When combined with the last quarter ended June 30 of this year, sales totaled $641 million, 171 percent above pro forma combined sales of $290 million for the quarter ended June 30, 1999.
Figures for the combined pro forma sales for the prior year's periods include the separately reported results of E-TEK Dynamics Inc., which was acquired on June 30 of this year in a transaction accounted for as a purchase. Including merger-related charges, purchased intangible amortization, payroll taxes on stock option exercises, and income related to investments accounted for under the equity method of accounting, the company reported a loss of $1.0 billion, or $1.07 per share for the quarter.