JDS sees huge loss, warns
<font size=5>Fiber-optics firm to cut 16,000 jobs, sees 3Q loss of $7.9B</font>
July 26, 2001: 4:57 p.m. ET
NEW YORK (CNNfn) - Fiber-optic component maker JDS Uniphase Corp., on Thursday posted a whopping <font color="#FF0000">$50.6 billion loss for the year and said it would cut 16,000 jobs</font>.
<font color="#FF0000">JDS reported losses of $477 million, or 36 cents a diluted share compared to a gain of $137 million or 14 cents a share for the same time period in 2000</font>. Excluding all the items, JDS reported a loss of 9 cents.
<font color="#FF0000">Earnings tracker First Call expected a 3-cent per share profit for the quarter</font>.
<font color="#FF0000">Sales for the quarter dropped 35 percent </font>to $601 million while sales for the year were $3.2 billion.
Eigener Kommentar:"Sales dropped 35 percent"... - Das sollte zu denken geben!!!
Including goodwill reductions and other charges, the company reported a $7.9 billion loss, or $5.99 a share for the quarter, and a fiscal year loss of $50.6 billion or $46.30 a share.
"Fiscal year 2001 began as a period of rapid expansion for JDS Uniphase but concluded with a severe industry downturn," said JDS Co-Chairman and CEO Jozef Straus.
"Our response to this downturn in the market was immediate and determined," Straus said."While this downturn is very difficult, we believe that our focus on customer engagement, new products, a lower cost structure and greater financial strength will allow JDS Uniphase to emerge even stronger when industry growth resumes."
The company said it does not see any positive signs of a reversal in the downward trend of the industry and expects first quarter revenue to be below earlier guidance. On June 14, JDS projected first quarter revenue of $450 million but Thursday declined to give further guidance for first quarter or future periods.
In June, the fiber optics components maker warned layoffs would exceed the 5,000 cuts announced in April. On Thursday, JDS said it would reduce 16,000 positions of which 9,000 were already cut by June 30. Most of the remaining reductions will take place in first quarter, JDS said.
<font color="#FF0000">Shares for JDS had surged nearly 8 percent to close at $9.74 Thursday. But in after-hours trading on Instinet, they dropped $1.74 to $8</font>.
Quelle: http://www.cnnfn.com
http://cnnfn.cnn.com/2001/07/26/technology/earns_jdsu/[/b]
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