Oclaro Announces Resignation of Jerry Turin, CFO

               Oclaro Announces Resignation of Jerry Turin, CFO

PR Newswire

SAN JOSE, Calif., Oct. 10, 2013

SAN JOSE, Calif., Oct. 10, 2013 /PRNewswire/ --Oclaro, Inc. (NASDAQ: OCLR), a
leading provider and innovator of optical communications solutions, today
announced that its chief financial officer, Jerry Turin, plans to resign from
Oclaro on November 8, 2013, to pursue other opportunities. The company expects
to name Mr. Turin's successor on or before November 8.

(Logo:http://photos.prnewswire.com/prnh/20130129/SF49903LOGO)

"Over his nearly 8 years at Oclaro, Jerry has played an instrumental role in
building key relationships in the financial community, managing the Finance
function, and supporting Oclaro's various mergers and acquisitions," said Greg
Dougherty, Oclaro CEO. "We are grateful for his years of service to the
company and wish him success in his future endeavours."

Mr. Turin joined Oclaro in 2005 as corporate controller. He was later promoted
to vice president of finance before assuming the role of chief financial
officer in 2008.

"I have enjoyed the many experiences and relationships I have built over the
past eight years at Oclaro," said Turin. "As I move onto my next career
opportunity, I wish the Oclaro team well as they work to execute on the
restructuring and turnaround plans."

About Oclaro

Oclaro, Inc. (NASDAQ: OCLR) is one of the largest providers of optical
components, modules and subsystems for the optical communications market. The
company is a global leader dedicated to photonics innovation, with
cutting-edge research and development (R&D) and chip fabrication facilities in
the U.S., U.K., Italy, Korea and Japan. It has in-house and contract
manufacturing sites in China, Malaysia and Thailand, with design, sales and
service organizations in most of the major regions around the world. For more
information, visit http://www.oclaro.com.

Safe Harbor Statement
This press release contains statements about management's future expectations,
plans or prospects of Oclaro and its business, and together with the
assumptions underlying these statements, constitute forward-looking statements
for the purposes of the safe harbor provisions of The Private Securities
Litigation Reform Act of 1995. These forward-looking statements include
statements concerning (i) restructuring Oclaro for the future, (ii)
simplifying Oclaro's operating footprint, (iii) progress toward Oclaro's
target business model, including financial guidance for the fiscal quarter
ending September 28, 2013 regarding revenue, non-GAAP gross margin and
Adjusted EBITDA, and (iv) Oclaro's market position and future operating
prospects. Such statements can be identified by the fact that they do not
relate strictly to historical or current facts and may contain words such as
"anticipate," "estimate," "expect," "project," "intend," "plan," "believe,"
"will," "should," "outlook," "could," "target," "model," and other words and
terms of similar meaning in connection with any discussion of future
operations or financial performance. There are a number of important factors
that could cause actual results or events to differ materially from those
indicated by such forward-looking statements, including (i) The close of the
optical amplifier and micro optics business ("Amplifier business"), (ii) the
future performance of Oclaro and its ability to effectively integrate the
operations of acquired companies following the closing of acquisitions and
mergers, including its merger with Opnext, and to effectively restructure its
operations and business following the sale of its Zurich and Amplifier
business in accordance with its business plan, (iii) the potential inability
to realize the expected and ongoing benefits and synergies of acquisitions and
mergers and benefits of asset dispositions, (iv) the impact to our operations,
revenues and financial condition attributable to the flooding in Thailand, (v)
the impact of continued uncertainty in world financial markets and any
resulting reduction in demand for our products, (vi) our ability to meet or
exceed our gross margin expectations, (vii) the effects of fluctuating product
mix on our results, (viii) our ability to timely develop and commercialize new
products, (ix) our ability to reduce costs and operating expenses, (x) our
ability to respond to evolving technologies and customer requirements and
demands, (xi) our dependence on a limited number of customers for a
significant percentage of our revenues, (xii) our ability to maintain strong
relationships with certain customers, (xiii) our ability to effectively
compete with companies that have greater name recognition, broader customer
relationships and substantially greater financial, technical and marketing
resources than we do, (xiv) our ability to effectively and efficiently
transition to an outsourced back-end assembly and test model, (xv) our ability
to timely capitalize on any increase in market demand, (xvi) increased costs
related to downsizing and compliance with regulatory and legal requirements in
connection with such downsizing, (xvii) competition and pricing pressure,
(xviii) the potential lack of availability of credit or opportunity for equity
based financing, (xix) the risks associated with our international operations,
(xx) Oclaro's ability to service and repay its outstanding indebtedness
pursuant to the terms of the applicable agreements, (xxi) the outcome of tax
audits or similar proceedings, (xxii) the outcome of pending litigation
against the company, (xxiii) Oclaro's ability to maintain or increase its cash
reserves and obtain financing on terms acceptable to it or at all, and (xxiv)
other factors described in Oclaro's most recent annual report on Form 10-K and
other documents it periodically files with the SEC. The forward-looking
statements included in this announcement represent Oclaro's view as of the
date of this announcement. Oclaro anticipates that subsequent events and
developments may cause Oclaro's views and expectations to change. Oclaro
specifically disclaims any intention or obligation to update any
forward-looking statements as a result of developments occurring after the
date of this announcement.

SOURCE Oclaro, Inc.

Website: http://www.oclaro.com
Contact: Jim Fanucchi, Darrow Associates, Inc., (408) 404-5400, ir@oclaro.com
 
Press spacebar to pause and continue. Press esc to stop.