San Jose, California, August 18, 2005 – JDS Uniphase Corporation (NASDAQ: JDSU and TSX: JDU) today announced that it will postpone its fourth quarter and fiscal 2005 announcement in order to allow additional time to complete the year-end audit of the Company’s financial statements.
Based on preliminary financial results, the Company expects revenue for the fourth quarter of fiscal 2005 to be approximately $170 million, with improved quarter-over-quarter gross margin performance.
The quantity, complexity and accounting of one time transactions have extended the completion of this year’s audit. During the fourth quarter, these transactions included the sale of the Company’s Mountain Lakes and Ewing, New Jersey facilities to a contract manufacturing partner, the divestiture of both the CATV and bulk optics businesses, the phase out of some products manufactured at the Company’s facility in Santa Rosa, and the acquisition of Photonic Power Systems and Lightwave Electronics. The Company will reschedule the earnings announcement as soon as the year-end audit is finalized.
About JDS Uniphase
JDS Uniphase is the worldwide leading provider of broadband test & measurement solutions and optical products for communications, commercial and consumer markets. The Company offers test and measurement systems and services for telecommunications service providers, cable operators and network equipment manufacturers. In addition, the Company offers components, modules and subsystems for optical communication, display, security, medical/environmental instrumentation, decorative, aerospace and defense applications. More information is available at http://www.jdsu.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include any anticipation or guidance as to the Company’s revenue and gross margins for the fourth quarter of fiscal 2005. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, the risk that the Company’s actual financial results could differ from those anticipated due to the completion of the audit, which remains pending.
For more information on other risks affecting the Company's business, please refer to the “Risk Factors” section included in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2005 filed with the Securities and Exchange Commission, as well as in other filings on Forms 10-Q and 10-K. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.
Contact Information
Investors: Jacquie Ross, 408-546-4445, investor.relations@jdsu.com
Press: Jayme Curtis, 408-546-7028, jayme.curtis@jdsu.com