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Thursday, Feb 29, 2024

Optical Communications Starts Year with Loss

Woodland Hills-based fiber optics components manufacturer Optical Communications Products Inc. reported a net loss for the first quarter of its 2007 fiscal year. The company tallied a loss of $4.2 million, or an earnings loss of $0.04 per diluted share, on revenues of $17 million for the quarter ending Dec. 31. For the same period in 2005, the company had a net income of $1 million, or $0.01 per diluted share, on revenues of $17.8 million. For the fourth quarter of the 2006 fiscal year, the company has a net loss of $1.3 million, or an earnings loss of $0.01 per diluted share, on revenues of $19.1 million. The first quarter performance reflects lower unit volume than expected and release of 10 Gigabit Ethernet components to OCP’s principal customer base, said CEO Philip Otto, in a statement released Thursday. “Additionally, integration of internally sourced lasers from our acquired operation in Taiwan into our existing products is moving ahead according to plan, and we have initiated a program to cull older legacy products from our mix,” Otto said. In August, OPC bought GigaComm Corp., a Taiwanese supplier of passive fiber-to-the-home components. The purchase gives OPC a second source of lasers for use in its products to be more cost effective and cost competitive. In November, the company reached an agreement to move some its manufacturing to SAE Magneticks Ltd. in China. The move results in the elimination of 150 to 180 manufacturing positions in Woodland Hills, and 70 to 80 positions at the GigaComm facility.

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