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Oplink Reports Fourth Quarter And Fiscal Year 2012 Financial Results

FREMONT, Calif., Aug. 16, 2012 (GLOBE NEWSWIRE) -- Oplink Communications, Inc. (Nasdaq:OPLK), a leading provider of design, integration and optical manufacturing solutions (OMS) for optical networking components, modules and subsystems, today reported its financial results for its fourth quarter and fiscal year ended July 1, 2012.

Revenues for the fourth quarter were $44.2 million and GAAP net loss was $5.2 million, or $(0.27) per share. This compares to revenues of $44.0 million and GAAP net income of $2.9 million, or $0.14 per diluted share, reported in the prior quarter, and $43.7 million and GAAP net income of $26.3 million, or $1.23 per diluted share, reported in the same period of the prior year. The GAAP net loss for the fourth quarter of fiscal 2012 was due to a one-time, non-cash charge of $8.1 million related to certain deferred tax assets which will not be realized in the future.

Non-GAAP net income for the fourth quarter was $3.8 million, or $0.19 per diluted share, as compared to $2.5 million, or $0.13 per diluted share, reported in the prior quarter, and $5.9 million, or $0.28 per diluted share, reported in the same period of the prior year.

For fiscal year 2012, revenues were $174.9 million. GAAP net loss for the fiscal year was $2.6 million, or $(0.13) per share. The GAAP net loss for fiscal 2012 was due to the $8.1 million charge in the fourth quarter referred to above. Non-GAAP net income for the fiscal year was $11.4 million, or $0.57 per diluted share. Non-GAAP results exclude the $8.1 million charge and the other items described in the Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures attached to this press release.

Oplink generated $6.9 million in cash from operations, used $6.5 million for stock repurchases, and closed the quarter with cash, cash equivalents and short-term and long-term investments of $176.2 million.

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