JDS Uniphase Management Discusses Q4 2012 Results - Earnings Call Transcript

I'd like to remind you that this call will include forward-looking statements about the future financial performance of the company. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from management's current expectations. We encourage you to look at the company's most recent filings with the SEC, particularly the Risk Factors section of our Annual Report on Form 10-K filed on August 30, 2011.

The forward-looking statements, including guidance, provided during the call are valid only as of today's date, and JDSU undertakes no obligation to update these statements as we move through the quarter.

Please note that all numbers are non-GAAP unless otherwise stated. A detailed reconciliation of these non-GAAP results to our GAAP results, as well as a discussion of their usefulness and limitations is included in today's news release announcing our results, which is available on our website along with supplementary slides and historical financial tables. Finally and as a reminder, this call is being recorded, and the replay will also be available shortly on our website.

I would now like to turn the call over to Tom.

Thomas H. Waechter

Thank you, Cherryl, and good afternoon, everyone. JDSU delivered solid fourth quarter results in a challenging macroeconomic environment. Revenue of $439 million topped our guidance and operating margin was 8.7%, on the high end of our forecast range. Book-to-bill was greater than 1 for the company overall and for 2 of our 3 business segments. Cash from operations was $38 million, further contributing to our healthy balance sheet.

Our steady execution on our strategic priorities has enabled JDSU to outperform despite difficult market conditions, further differentiating ourselves from competitors and increasing our leadership in the markets we serve. Our latest financial results reflect market share gain and our financial leverage stemming from our commitment to this priority.

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