Accordingly actual results may differ materially from those indicated by these forward-looking statements. Oclaro does not intend and does not require to update any forward-looking statements as a result of future developments.In connection with the proposed combination between Oclaro and Opnext, Oclaro intends to file documents with the SEC including a registration statement on Form S-4 containing a joint proxy statement and prospectus. Investors and security holders are urged to read carefully the joint proxy statement and prospectus, when it is filed with the SEC and other documents filed by either company with the SEC relating to the proposed combination when they are filed, because they will contain important information. In addition today, we will be discussing non-GAAP financial measures. These non-GAAP financial measures are not prepared in accordance with GAAP, and should not be considered as a substitute for or superior to measures of financial performance prepared in accordance with GAAP. A table that outlines the reconciliation between the non-GAAP financial measures to GAAP financial measures is included in our earnings release, which we have filed with the SEC and I refer investors to this release. I would now like to turn the call over to Jerry. Jerry Turin Thanks Jim. I’ll start off by focusing on the current quarter, with Alain providing more color on strategic initiatives and market conditions among other things later in the call. Our revenues for the quarter ended March 31, 2012 were $88.7 million, compared to $86.5 million in the prior quarter. We continue to recover from the flood that hit our Thailand production last quarter, and we are largely on track with these plans. Revenues in the March quarter would have been about $4 million higher, if not for a short work stoppage in our Shenzhen, China facility at the end of the quarter.
From a product point of view and here I will refer you to revenue information in the slides provided online. Our telecom component revenues were up $1.2 million in the quarter, partly due to initial shipments of 10-gig modulators that had been impacted by the flood previously.Our telecom modular revenues were down by $2.1 million with 40-gig relatively flat and a decrease in our 10-gig product. Amplification, filtering and optical routing revenues were up $3 million in the quarter, primarily as a result of increased production output on flood recovery product lines. Industrial and consumer revenues were up $1.1 million in the quarter with high power laser revenues up as a result of flood recovery, and VCSELs for consumer applications up after a seasonably weaker December quarter. Fujitsu was our only greater than 10% customer this quarter at 16%, leaving a nice diversification of our remaining revenues broadly across our other major customers. Our non-GAAP gross margins in the quarter were 16% compared to 13% in the previous quarter, as we need meaningful progress in recovering our gross margins towards pre-flood levels. We are particularly pleased as March tends to be a challenging quarter on gross margins, because much of the new customers pricing takes effect January 1. R&D expense was $15 million in the quarter down from $17 million in the prior quarter as a result of our cost control efforts. SG&A expense was $14.9 million compared to $14.4 million in the prior quarter. The prior quarter had a one-time benefit for collection of a previously reserved bad debt. SG&A for the three quarters preceding December had averaged $16.8 million, so the $14.9 million in the March quarter continues to represent a significant decrease from earlier run rates. Stock compensation included in cost of sales. R&D and SG&A in the quarter was 460,000, 350,000 and 860,000 respectively.
Our income tax provision for the quarter were $700,000, as you may have noticed from a 8-K we filed yesterday, our income tax provision for the quarter ended September 30, 2011, the first quarter of our current fiscal year has been restated to $5.6 million compared to the $1.2 million previously reported. In this March quarter, we determined that a notice received by one of our overseas subsidiaries in the September quarter had the effect of fully impairing our loss carryforwards in that specific jurisdiction.Read the rest of this transcript for free on seekingalpha.com