Bookham Books a Loss

Bookham (BKHM Quote) narrows its losses on slightly lighter-than-expected sales.

The San Jose, Calif., optical networking shop posted a pro forma net loss of $10.8 million, or 13 cents a share, in the fiscal fourth quarter ended June 30. Those numbers compare with an adjusted loss of $18.7 million, or 27 cents a share, in the prior quarter, and a pro forma loss of $21 million, or 37 cents a share, in the year-ago period.

Sales for the fiscal fourth quarter were $45.1 million, roughly flat with the prior quarter and down from $55 million a year ago. Analysts were expecting a 19-cent loss on sales of $46 million, according to Reuters Research.

"In the fourth quarter, we made progress in lowering our overall cost structure," CEO Peter Bordui said in a press release.

Looking ahead, the company expects fiscal first-quarter sales of about $52 million. Analysts were looking for $50 million.

The company says Alain Couder, who was named the next CEO last month, will take over for Bordui on Aug. 13.

"Alain will be able to lead the company in achieving sustained profitability, revenue growth, and improved shareholder value," Bordui said in the release.

Bookham shares were up 6 cents to $2.58 in after-hours trading Thursday.