MKM Partners Reiterates Buy on Oclaro (OCLR) - PT to $11
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Oclaro Announces First Quarter Fiscal Year 2017 Financial Results
November 1, 2016 4:05 PM EDTSAN JOSE, Calif., Nov. 1, 2016 /PRNewswire/ --Â Oclaro, Inc. (Nasdaq: OCLR), a leading provider and innovator of optical communications solutions, today announced the financial results for its first quarter of fiscal year 2017, which ended October 1, 2016.
"The September quarter again demonstrated the continued strong performance of the Company and the vitality of the global 100G market. We exceeded our guidance in all areas, with revenue of $135 million producing higher than forecasted gross margin and operating income. I am particularly pleased by our gross margin of 34 percent and our GAAP and non-GAAP operating income... More
