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Thursday, Mar 28, 2024

Acquisition Proves Helpful to Oplink

Oplink Communications Inc. made $26.1 million this month by selling the Woodland Hills building of its subsidiary Optical Communications Products Inc. Acquisition of OCP, which closed in October, figured in to the 113 percent increase in revenues posted by Oplink for the second quarter when compared with the previous year. For the quarter ending Dec. 31, Oplink reported a net loss of $3.4 million, or a loss of $0.16 per diluted share, on revenues of $48.9 million. For the same period in 2007, the company reported a net loss of $3.1 million, or a loss of $0.14 per diluted share, on revenues of $23 million. Oplink, a manufacturer of optical networking components and subsystems based in Fremont, began its purchase of OCP in June by acquiring a majority of shares in the company. Oplink closed on its purchase of the remaining shares in October. During the second quarter alone, Oplink spent $80.6 million to complete the acquisition and $39.6 million to repurchase common stock. “We have initiated integration of the OCP business and operations, and have begun to achieve business efficiencies,” Oplink President and CEO Joe Liu said. “We expect to complete the integration by June 2008. We continue to believe that the combined company will drive good performance in the future and are optimistic about the value this will create over time for customers, partners and shareholders.” Shares in Oplink closed at $12.77.

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