SAN JOSE, Calif., Sept. 25 -- JDS Uniphase Corp. said sales are showing signs of stabilizing and the future looks brighter, said Jozef Straus, chief executive of JDS Uniphase. "While the downturn in our markets has not yet reversed, we believe we are beginning to see the early signs of stabilization at levels from which our industry can grow in the future," he said. The company, which lost more than $55 billion in the fiscal year ended June 30, said it expects first-quarter sales to be about $325 million for the three months ending Sept. 29.
Efforts to cut costs also are proceeding well, said Greg Dougherty, JDS Uniphase's chief operating officer. The company's employment is now just under 14,000 people, down from 29,000 earlier this year. JDS also is shedding real estate and trimming duplicate operations after a series of mergers.