UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM 8-K CURRENT REPORT
Pursuant to Section 13 or 15(d) of the |
Date of Report: June 12, 2014
(Date of earliest event reported)
Finisar Corporation
(Exact name of registrant as specified in its charter)
DE
(State or other jurisdiction
of incorporation)
000-27999
(Commission File Number)
94-3038428
(IRS Employer
Identification Number)
1389 Moffett Park Drive, Sunnyvale, CA
(Address of principal executive offices)
94089-1133
(Zip Code)
4085425051
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if changed since last report)
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Item 2.02. Results of Operations and Financial Condition On June 12, 2014, Finisar Corporation issued a press release announcing its financial results for the fourth quarter and full fiscal year 2014 ended April 27, 2014. A copy of the press release is attached hereto as Exhibit 99.1. In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Dated: June 12, 2014 |
FINISAR CORPORATION
By: /s/ |
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| Exhibit No. | Description |
| 99.1 | Press Release of Finisar Corporation dated June 12, 2014 |
SUNNYVALE, CA -- (Marketwired - June 12, 2014) - Finisar Corporation (NASDAQ: FNSR), a global technology leader for subsystems and components for fiber optic communications, today announced financial results for its fourth fiscal quarter and full 2014 fiscal year ended April 27, 2014.
COMMENTARY
"I am pleased to report that fourth quarter revenues were $306.0 million, and annual fiscal 2014 revenues were $1,156.8 million, both new all-time records for Finisar. Quarterly revenues increased by $12.0 million, or 4.1%, over the third fiscal quarter and $62.6 million, or 25.7%, over the fourth fiscal quarter of the prior year. Quarterly revenues grew for the seventh consecutive quarter. Annual revenues increased by $222.5 million, or 23.8%, over the prior fiscal year," said Jerry Rawls, Finisar's executive Chairman of the Board.
"Demand for transceivers operating at 10Gb/s and faster continued to be strong during the quarter. Demand was also strong for our transceivers for LTE wireless applications. We continue to develop and release new products, which we expect will enable Finisar to expand our market share and continue to grow revenue," said Eitan Gertel, Finisar's Chief Executive Officer.
FINANCIAL HIGHLIGHTS - FOURTH QUARTER ENDED APRIL 27, 2014
Summary GAAP Results (a) Fourth Third
Quarter Quarter
Ended Ended
April 27, 2014 January 26, 2014
----------------- -----------------
(in thousands, except per share
amounts)
Revenues $ 306,025 $ 294,018
Gross margin 31.7% 35.9%
Operating expenses $ 75,369 $ 72,593
Operating income $ 21,560 $ 33,096
Operating margin 7.0% 11.3%
Net income $ 28,375 $ 27,061
Income per share-basic $ 0.29 $ 0.28
Income per share-diluted $ 0.27 $ 0.26
Basic shares 96,965 96,394
Diluted shares 105,418 104,361
Summary Non-GAAP Results (b) Fourth Third
Quarter Quarter
Ended Ended
April 27, 2014 January 26, 2014
----------------- -----------------
(in thousands, except per share
amounts)
Revenues $ 306,025 $ 294,018
Gross margin 34.2% 37.2%
Operating expenses $ 65,931 $ 63,209
Operating income $ 38,882 $ 46,295
Operating margin 12.7% 15.7%
Net income $ 36,992 $ 44,993
Income per share-basic $ 0.38 $ 0.47
Income per share-diluted $ 0.36 $ 0.44
Basic shares 96,965 96,394
Diluted shares 105,418 104,361
_____________
(a) The GAAP financial results included in this press release for the
fourth quarter and fiscal 2014 do not include the impact of the
amortization of acquired intangible assets in connection with the
acquisition of u2t Photonics AG because the Company is in the process
of obtaining a third-party valuation of such intangible assets and thus
such impact has not yet been determined. The amount of such
amortization of acquired intangible assets, when determined, is not
expected to be material in the periods presented.
(b) In evaluating the operating performance of Finisar's business, Finisar
management utilizes financial measures that exclude certain charges and
credits required by U.S. generally accepted accounting principles, or
GAAP, that are considered by management to be outside Finisar's core
operating results. A reconciliation of Finisar's non-GAAP financial
measures to the most directly comparable GAAP measures, as well as
additional related information, can be found under the heading "Finisar
Non-GAAP Financial Measures" below.
Financial Statement Highlights for the fourth quarter of fiscal 2014:
FINANCIAL HIGHLIGHTS - FISCAL YEAR 2014 ENDED APRIL 27, 2014
Summary GAAP Results (a) Fiscal Year Fiscal Year
Ended Ended
April 27, 2014 April 28, 2013
----------------- -----------------
(in thousands, except per share
amounts)
Revenues $ 1,156,833 $ 934,335
Gross margin 34.3% 27.5%
Operating expenses $ 285,496 $ 262,596
Operating income $ 111,868 $ (5,555)
Operating margin 9.7% (0.6)%
Net income $ 111,412 $ (5,454)
Income per share-basic $ 1.16 $ (0.06)
Income per share-diluted $ 1.09 $ (0.06)
Basic shares 95,979 92,860
Diluted shares 104,112 92,860
Summary Non-GAAP Results (b) Fiscal Year Fiscal Year
Ended Ended
April 27, 2014 April 28, 2013
----------------- -----------------
(in thousands, except per share
amounts)
Revenues $ 1,156,833 $ 934,335
Gross margin 35.9% 30.9%
Operating expenses $ 253,202 $ 223,667
Operating income $ 162,341 $ 65,247
Operating margin 14.0% 7.0%
Net income $ 157,021 $ 61,255
Income per share-basic $ 1.64 $ 0.66
Income per share-diluted $ 1.53 $ 0.64
Basic shares 95,979 92,860
Diluted shares 104,112 99,284
_____________
(a) The GAAP financial results included in this press release for the
fourth quarter and fiscal 2014 do not include the impact of the
amortization of acquired intangible assets in connection with the
acquisition of u2t Photonics AG because the Company is in the process
of obtaining a third-party valuation of such intangible assets and thus
such impact has not yet been determined. The amount of such
amortization of acquired intangible assets, when determined, is not
expected to be material in the periods presented.
(b) In evaluating the operating performance of Finisar's business, Finisar
management utilizes financial measures that exclude certain charges and
credits required by U.S. generally accepted accounting principles, or
GAAP, that are considered by management to be outside Finisar's core
operating results. A reconciliation of Finisar's non-GAAP financial
measures to the most directly comparable GAAP measures, as well as
additional related information, can be found under the heading "Finisar
Non-GAAP Financial Measures" below.
Financial Statement Highlights for fiscal 2014:
OUTLOOK
The Company indicated that it currently expects revenues for the first quarter of fiscal 2015 to be in the range of $320 to $335 million, non-GAAP gross margin of approximately 32%, non-GAAP operating margin of approximately 10.3% to 11.3%, and non-GAAP earnings per diluted share to be in the range of approximately $0.30 to $0.34.
CONFERENCE CALL
Finisar will discuss its financial results for the fourth quarter and current business outlook during its regular quarterly conference call scheduled for Thursday, June 12, 2014, at 2:00 pm PT (5:00 pm ET). To listen to the call you may connect through the Finisar investor relations page at http://investor.finisar.com or dial 1-877-857-6173 (domestic) or +1-719-325-4797 (international) and enter conference ID 3838782.
An audio replay will be available for two weeks following the call by dialing 1-888-203-1112 (domestic) or +1-719-457-0820 and then following the prompts: enter conference ID 3838782 and provide your name, affiliation, and contact number. A replay of the webcast will be available shortly after the conclusion of the call on the Company's website until the next regularly scheduled earnings conference call.
SAFE HARBOR UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statement concerning Finisar's expected financial performance. These statements are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on our current expectations, estimates, assumptions and projections about our business and industry, and the markets and customers we serve, and they are subject to numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Finisar assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from those projected. Examples of such risks include those associated with: the uncertainty of customer demand for Finisar's products; the rapidly evolving markets for Finisar's products and uncertainty regarding the development of these markets; Finisar's historical dependence on sales to a limited number of customers and fluctuations in the mix of products and customers in any period; ongoing new product development and introduction of new and enhanced products; the challenges of rapid growth followed by periods of contraction; intensive competition; and the uncertainty of achieving anticipated cost savings and synergies in connection with the recently completed u2t acquisition. Further information regarding these and other risks relating to Finisar's business is set forth in Finisar's annual report on Form 10-K (filed June 24, 2013) and quarterly SEC filings.
ABOUT FINISAR
Finisar Corporation (NASDAQ: FNSR) is a global technology leader for fiber optic subsystems and components that enable high-speed voice, video and data communications for telecommunications, networking, storage, wireless, and cable TV applications. For 25 years, Finisar has provided critical optics technologies to system manufacturers to meet the increasing demands for network bandwidth. Finisar is headquartered in Sunnyvale, California, USA with R&D, manufacturing sites, and sales offices worldwide. For additional information, visit www.finisar.com.
FINISAR FINANCIAL STATEMENTS The following financial tables are presented in accordance with GAAP, except that the GAAP financial results included in this press release for the fourth quarter and fiscal 2014 do not include the impact of the amortization of acquired intangible assets in connection with the acquisition of u2t Photonics AG because the Company is in the process of obtaining a third-party valuation of such intangible assets and thus such impact has not yet been determined. The amount of such amortization of acquired intangible assets, when determined, is not expected to be material in the periods presented.
Finisar Corporation
Consolidated Statements of Operations
(Unaudited, in thousands, except per share data)
Three
Months
Three Months Ended Twelve Months Ended Ended
--------------------- --------------------- -----------
April 27, April 28, April 27, April 28, January 26,
2014 2013 2014 2013 2014
---------- ---------- ---------- ---------- -----------
Revenues $ 306,025 $ 243,417 $1,156,833 $ 934,335 $ 294,018
Cost of revenues 208,135 166,093 754,773 662,094 187,368
Impairment of
acquired developed
technology and
other long-lived
assets - 8,156 - 8,156 -
Amortization of
acquired developed
technology 961 1,842 4,696 7,044 961
---------- ---------- ---------- ---------- -----------
Gross profit 96,929 67,326 397,364 257,041 105,689
Gross margin 31.7% 27.7% 34.3% 27.5% 35.9%
Operating expenses:
Research and
development 48,132 41,270 183,355 158,784 46,734
Sales and
marketing 11,509 11,056 46,547 42,347 10,911
General and
administrative 15,133 6,279 53,214 45,337 14,353
Amortization of
purchased
intangibles 595 734 2,380 3,640 595
Impairment of
purchased
intangibles and
other long-lived
assets - 7,602 - 12,488 -
---------- ---------- ---------- ---------- -----------
Total operating
expenses 75,369 66,941 285,496 262,596 72,593
---------- ---------- ---------- ---------- -----------
Income (loss) from
operations 21,560 385 111,868 (5,555) 33,096
Interest income 485 211 1,319 755 335
Interest expense (2,965) (544) (5,547) (2,589) (1,663)
Other income
(expenses), net 8,124 (154) 7,234 (449) (1,873)
---------- ---------- ---------- ---------- -----------
Income (loss)
before income
taxes and non-
controlling
interest 27,204 (102) 114,874 (7,838) 29,895
Provision
(benefits) for
income taxes (1,104) (1,506) 3,712 227 2,827
---------- ---------- ---------- ---------- -----------
Income (loss)
before non-
controlling
interest 28,308 1,404 111,162 (8,065) 27,068
Adjust for net
(income) loss
attributable to
non-controlling
interest 67 2,475 250 2,611 (7)
---------- ---------- ---------- ---------- -----------
Net income (loss)
attributable to
Finisar
Corporation $ 28,375 $ 3,879 $ 111,412 $ (5,454)$ 27,061
========== ========== ========== ========== ===========
Net income (loss)
per share
attributable to
Finisar
Corporation common
stockholders:
Basic $ 0.29 $ 0.04 $ 1.16 $ (0.06)$ 0.28
Diluted $ 0.27 $ 0.04 $ 1.09 $ (0.06)$ 0.26
Shares used in
computing net
income (loss) per
share - basic 96,965 93,567 95,979 92,860 96,394
Shares used in
computing net
income (loss) per
share - diluted 105,418 96,192 104,112 92,860 104,361
Finisar Corporation
Consolidated Balance Sheets
(in thousands)
April 27, January 26, October 27, July 28, April 28,
2014 2014 2013 2013 2013
----------- ----------- ----------- ----------- -----------
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
----------- ----------- ----------- ----------- -----------
ASSETS
Current assets:
Cash and cash
equivalents $ 303,101 $ 374,902 $ 316,488 $ 288,433 $ 289,076
Short-term
held-to-
maturity
investments 209,922 179,847 - - -
Accounts
receivable,
net 225,020 195,442 186,486 171,823 149,612
Accounts
receivable,
other 33,749 24,274 25,890 34,386 16,538
Inventories 259,759 247,126 231,235 207,029 200,670
Prepaid
expenses and
other assets 33,029 22,764 20,902 19,533 18,402
----------- ----------- ----------- ----------- -----------
Total
current
assets 1,064,580 1,044,355 781,001 721,204 674,298
Property,
equipment and
improvements,
net 273,328 247,394 231,022 213,044 201,442
Purchased
intangible
assets, net 21,113 21,976 23,587 25,416 30,457
Goodwill 115,279 90,986 90,986 90,986 90,986
Minority
investments 2,117 2,041 1,841 1,711 884
Other assets 17,272 21,034 16,946 12,954 9,780
----------- ----------- ----------- ----------- -----------
Total
assets $ 1,493,689 $ 1,427,786 $ 1,145,383 $ 1,065,315 $ 1,007,847
=========== =========== =========== =========== ===========
LIABILITIES AND
STOCKHOLDERS'
EQUITY
Current
liabilities:
Accounts
payable $ 119,439 $ 96,723 $ 98,220 $ 90,488 $ 77,630
Accrued
compensation 38,541 46,402 48,182 32,001 31,492
Other accrued
liabilities 31,976 26,370 32,943 31,542 23,533
Deferred
revenue 16,659 15,620 14,235 12,582 9,182
Short term
debt 243 4,230 4,700 - -
Current
portion of
convertible
notes 40,015 40,015 40,015 - -
----------- ----------- ----------- ----------- -----------
Total
current
liabilities 246,873 229,360 238,295 166,613 141,837
Long-term
liabilities:
Convertible
notes, net
of current
portion 212,253 210,029 - 40,015 40,015
Other non-
current
liabilities 18,879 11,680 12,756 12,908 13,480
----------- ----------- ----------- ----------- -----------
Total
liabilities 478,005 451,069 251,051 219,536 195,332
Stockholders'
equity:
Common stock 97 97 96 96 94
Additional
paid-in
capital 2,456,110 2,440,849 2,377,198 2,363,514 2,350,146
Accumulated
other
comprehensive
income 20,025 18,980 27,315 22,397 28,525
Accumulated
deficit (1,460,548) (1,488,923) (1,515,984) (1,545,949) (1,571,960)
----------- ----------- ----------- ----------- -----------
Finisar
Corporation
stockholders'
equity 1,015,684 971,003 888,625 840,058 806,805
Non-
controlling
interest - 5,714 5,707 5,721 5,710
----------- ----------- ----------- ----------- -----------
Total
stockholders'
equity 1,015,684 976,717 894,332 845,779 812,515
----------- ----------- ----------- ----------- -----------
Total
liabilities
and
stockholders'
equity $ 1,493,689 $ 1,427,786 $ 1,145,383 $ 1,065,315 $ 1,007,847
=========== =========== =========== =========== ===========
Note - Balance sheet amounts as of April 28, 2013 are derived from the
audited consolidated financial statements as of the date.
FINISAR NON-GAAP FINANCIAL MEASURES
In addition to reporting financial results in accordance with U.S. generally accepted accounting principles, or GAAP, Finisar provides the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commissions: non-GAAP gross profit, non-GAAP operating income and non-GAAP income per share. These non-GAAP financial measures are supplemental information regarding the Company's operating performance on a non-GAAP basis that excludes certain gains, losses and charges of a non-cash nature or which occur relatively infrequently and which management considers to be outside our core operating results. Some of these non-GAAP measures also exclude the ongoing impact of historical business decisions made in different business and economic environments. Management believes that tracking non-GAAP gross profit, non-GAAP income from operations, non-GAAP net income and non-GAAP net income per share provides management and the investment community with valuable insight into our current operations, our ability to generate cash and the underlying business trends which are affecting our performance. These non-GAAP measures are used by both management and our Board of Directors, along with the comparable GAAP information, in evaluating our current performance and planning our future business activities. In particular, management finds it useful to exclude non-cash charges in order to better correlate our operating activities with our ability to generate cash from operations and to exclude certain cash charges as a means of more accurately predicting our liquidity requirements. We believe that these non-GAAP measures, when used in conjunction with our GAAP financial information, also allow investors to better evaluate our financial performance in comparison to other periods and to other companies in our industry.
In calculating non-GAAP gross profit in this release, we have excluded the following items from cost of revenues in applicable periods:
In calculating non-GAAP operating income in this release, we have excluded the same items to the extent they are classified as operating expenses, and have also excluded the following items in applicable periods:
In calculating non-GAAP income and non-GAAP income per share in this release, we have also excluded the following items in applicable periods:
A reconciliation of this non-GAAP financial information to the corresponding GAAP information is set forth below:
Finisar Corporation
Reconciliation of Results of Operations under GAAP and non-GAAP
(Unaudited, in thousands, except per share data)
Three
Months
Three Months Ended Twelve Months Ended Ended
--------------------- --------------------- -----------
April 27, April 28, April 27, April 28, January 26,
2014 2013 2014 2013 2014
---------- ---------- ---------- ---------- -----------
GAAP to non-GAAP
reconciliation of
gross profit:
Gross profit - GAAP $ 96,929 $ 67,326 $ 397,364 $ 257,041 $ 105,689
Gross margin - GAAP 31.7% 27.7% 34.3% 27.5% 35.9%
Adjustments:
Cost of revenues
Change in excess
and obsolete
inventory
reserve 3,384 390 3,439 8,248 384
Amortization of
acquired
technology 961 1,842 4,696 7,044 961
Stock
compensation 2,531 1,731 8,738 7,233 2,374
Impairment of
acquired
developed
technology and
other long-lived
assets - 8,156 - 8,156 -
Flood-related
expenses - (1,197) - (1,197) -
Acquisition
method
accounting
adjustment for
sale of acquired
inventory 822 - 822 1,363 -
Reduction in
force costs 124 17 228 818 34
Acquisition
related
retention
payment 62 62 256 208 62
---------- ---------- ---------- ---------- -----------
Total cost of
revenue
adjustments 7,884 11,001 18,179 31,873 3,815
---------- ---------- ---------- ---------- -----------
Gross profit - non-
GAAP 104,813 78,327 415,543 288,914 109,504
---------- ---------- ---------- ---------- -----------
Gross margin - non-
GAAP 34.2% 32.2% 35.9% 30.9% 37.2%
GAAP to non-GAAP
reconciliation of
operating income:
Operating income
(loss) - GAAP 21,560 385 111,868 (5,555) 33,096
Operating margin -
GAAP 7.0% 0.2% 9.7% -0.6% 11.3%
Adjustments:
Total cost of
revenue
adjustments 7,884 11,001 18,179 31,873 3,815
Research and
development
Reduction in
force costs - 52 28 240 -
Acquisition
related
retention
payment 190 204 761 639 190
Stock
compensation 4,056 2,856 15,645 11,796 3,995
Sales and marketing
Acquisition
related
retention
payment 17 17 68 54 17
Stock
compensation 1,406 1,015 5,341 3,979 1,369
General and
administrative
Reduction in
force costs 69 24 227 118 (82)
Acquisition
related
retention
payment 8 220 1,044 696 (11)
Stock
compensation 2,525 2,586 10,229 10,589 2,618
Acquisition
related costs 567 322 1,507 1,474 591
Litigation
settlements and
resolutions and
related costs 5 - 15 13 5
Gain on fair
value
remeasurement of
contingent
consideration
liability - (7,130) - (7,130) -
Shareholder class
action and
derivative
litigation costs - 144 (4,951) 333 97
Amortization of
purchased
intangibles 595 734 2,380 3,640 595
Impairment of long-
lived assets - 7,602 - 12,488 -
---------- ---------- ---------- ---------- -----------
Total cost of
revenue and
operating
expense
adjustments 17,322 19,647 50,473 70,802 13,199
---------- ---------- ---------- ---------- -----------
Operating income -
non-GAAP 38,882 20,032 162,341 65,247 46,295
---------- ---------- ---------- ---------- -----------
Operating margin -
non-GAAP 12.7% 8.2% 14.0% 7.0% 15.7%
GAAP to non-GAAP
reconciliation of
income
attributable to
Finisar
Corporation:
Net income (loss)
attributable to
Finisar
Corporation - GAAP 28,375 3,879 111,412 (5,454) 27,061
Adjustments:
Total cost of
revenue and
operating expense
adjustments 17,322 19,647 50,473 70,802 13,199
Non-cash imputed
interest expenses
on convertible
debt 2,225 - 3,152 - 927
Imputed interest
related to
restructuring 53 146 220 520 54
Other (income)
expense, net
Gain on sale of
assets (8,156) (1,160) (8,291) (1,311) (30)
Gain related to
minority
investments - - (743) - -
Other
miscellaneous
income - (2) (5) (263) (3)
Foreign exchange
transaction
(gain) or loss (69) 1,034 2,490 854 2,200
Amortization of
debt issuance
cost 155 - 231 - 76
Debt
extinguishment
loss - - - 573 -
Provision for
income taxes
Income tax
provision
adjustments (2,909) (1,506) (2,288) (2,217) 1,327
Non-controlling
interest non-GAAP
adjustment (4) (2,249) 370 (2,249) 182
---------- ---------- ---------- ---------- -----------
Total adjustments 8,617 15,910 45,609 66,709 17,932
---------- ---------- ---------- ---------- -----------
Net income
attributable to
Finisar
Corporation - non-
GAAP $ 36,992 $ 19,789 $ 157,021 $ 61,255 $ 44,993
========== ========== ========== ========== ===========
Non-GAAP income
attributable to
Finisar
Corporation $ 36,992 $ 19,789 $ 157,021 $ 61,255 $ 44,993
Add: interest
expense for
dilutive
convertible notes 539 539 2,156 2,157 539
---------- ---------- ---------- ---------- -----------
Adjusted non-GAAP
income
attributable to
Finisar
Corporation $ 37,531 $ 20,328 $ 159,177 $ 63,412 $ 45,532
========== ========== ========== ========== ===========
Non-GAAP income per
share attributable
to Finisar
Corporation common
stockholders
Basic $ 0.38 $ 0.21 $ 1.64 $ 0.66 $ 0.47
Diluted $ 0.36 $ 0.20 $ 1.53 $ 0.64 $ 0.44
Shares used in
computing non-GAAP
income per share
attributable to
Finisar
Corporation common
stockholders
Basic 96,965 93,567 95,979 92,860 96,394
Diluted 105,418 99,941 104,112 99,284 104,361
Non-GAAP EBITDA
Non-GAAP income
attributable to
Finisar
Corporation $ 36,992 $ 19,789 $ 157,021 $ 61,255 $ 44,993
Depreciation
expense 17,518 13,692 62,026 52,815 15,960
Amortization 94 94 376 653 94
Interest expense 202 187 856 1,314 347
Income tax expense 1,805 0 6,000 2,444 1,500
---------- ---------- ---------- ---------- -----------
Non-GAAP EBITDA $ 56,611 $ 33,762 $ 226,279 $ 118,481 $ 62,894
========== ========== ========== ========== ===========
Finisar-F
Investor Contact: Kurt Adzema Chief Financial Officer 408-542-5050 Investor.relations@finisar.com Press contact: Victoria McDonald Director, Corporate Communications 408-542-4261