Needham & Company Maintains a 'Hold' on Oclaro (OCLR); Cutting Estimates Despite Accelerated Cost Cuts

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Needham & Company maintains a 'Hold' on Oclaro (NASDAQ: OCLR).

Analyst, Alex Henderson, said, "Even with the Cost Cutting, we are Cutting our Estimates: Cutting CY 2012 Revenue estimate to $545 mm from $576 mm; Cutting CY 2012 EPS estimates to $0.83/sh loss from $0.67/sh loss; Cutting CY 2013 Revenue estimate to $781 mm from $865 mm; and Cutting CY 2013 EPS estimates to $0.09/sh loss from $0.17/sh profit."

For an analyst ratings summary and ratings history on Oclaro click here. For more ratings news on Oclaro click here.

Shares of Oclaro closed at $2.80 yesterday, with a 52 week range of $2.11-$5.10.

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