Oclaro Appoints Pete Mangan as Chief Financial Officer

            Oclaro Appoints Pete Mangan as Chief Financial Officer

PR Newswire

SAN JOSE, Calif., Oct. 22, 2013

SAN JOSE, Calif., Oct. 22, 2013 /PRNewswire/ --Oclaro, Inc. (NASDAQ: OCLR), a
leading provider and innovator of optical communications solutions, today
announced Pete Mangan, a 30-year technology finance veteran, has been
appointed as chief financial officer (CFO), effective November 11, 2013.
Mangan, currently vice president, corporate finance for Oclaro, will succeed
Jerry Turin, who previously announced plans to resign on November 8, 2013 to
pursue other opportunities. Mangan will report directly to Greg Dougherty,
CEO.

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

"As vice president of corporate finance, Pete has been an instrumental leader
in helping drive our restructuring plan," said Greg Dougherty, chief executive
officer, Oclaro. "His financial discipline and his wealth of experience in
finance, restructuring and technology businesses are a strong complement to
the executive team and we anticipate a seamless transition into his new role
as CFO."

Mr. Mangan joined Oclaro in May 2012 as vice president of corporate finance.
Since joining the company he has been responsible for the global operations
finance team and recently the corporate accounting and tax group. Mr. Mangan
brings Oclaro nearly 30 years of experience in a wide range of finance
positions with leading companies including AMD, Trident Microsystems,
FormFactor, Spansion, Asyst Technologies, and Sun Microsystems. Mangan served
as CFO at Trident Microsystems from 1996 to 1998 and again from 2008 to 2012.
He holds a bachelor's degree in Business Economics from UC Santa Barbara.

"Oclaro is making progress on its plans to return the company to fiscal
stability," said Mangan. "Our recently announced divestitures are an important
step in restructuring the company. I look forward to working even more closely
with the Oclaro executive team to create a successful turn-around and
sustainable company."

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 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, (ii) the potential inability to
realize the expected and ongoing benefits and synergies of acquisitions and
mergers and benefits of asset dispositions, (iii) the impact to our
operations, revenues and financial condition attributable to the flooding in
Thailand, (iv) the impact of continued uncertainty in world financial markets
and any resulting reduction in demand for our products, (v) our ability to
meet or exceed our gross margin expectations, (vi) the effects of fluctuating
product mix on our results, (vii) our ability to timely develop and
commercialize new products, (viii) our ability to reduce costs and operating
expenses, (ix) our ability to respond to evolving technologies and customer
requirements and demands, (x) our dependence on a limited number of customers
for a significant percentage of our revenues, (xi) our ability to maintain
strong relationships with certain customers, (xii) 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, (xiii) our ability to effectively and efficiently
transition to an outsourced back-end assembly and test model, (xiv) our
ability to timely capitalize on any increase in market demand, (xv) increased
costs related to downsizing and compliance with regulatory and legal
requirements in connection with such downsizing, (xvi) competition and pricing
pressure, (xvii) the potential lack of availability of credit or opportunity
for equity based financing, (xviii) the risks associated with our
international operations, (xix) Oclaro's ability to service and repay its
outstanding indebtedness pursuant to the terms of the applicable agreements,
(xx) the outcome of tax audits or similar proceedings, (xxi) the outcome of
pending litigation against the company, (xxii) Oclaro's ability to maintain or
increase its cash reserves and obtain financing on terms acceptable to it or
at all, and (xxiii) 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
 
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