Optical Communication Products, Inc., a Woodland Hills-based manufacturer of fiber optic subsystems and modules reported their first quarter results for the period ending December 31, 2005. The fiscal year ends September 20, 2006. Revenues for the first quarter of 2006 was $17.7 million, from $14 million in 2005, a 26 percent increase. The last fiscal year of 2005 saw only a 19.9 percent increase with $14.8 million. Net income for the first quarter of 2006 was $1.1 million versus a net loss of $31,000 for the same quarter in 2005. The earnings per diluted share remained the same since 2005 for the first quarter of 2006 at $0.01 The Company will discontinue its operations in its Broomfield, Colorado facility. The Company will no longer develop VCSEL technology, a type of fiber optic technology in favor of a more cost effective Fabry-Perot laser technology. In effect, this switch will save them approximately $500,000 to $1 million per quarter in the short-term.
