Finisar Corporation Announces Release of the WaveShaper 1000/SP 1µm Programmable Single-Polarization Filter
Jan 27 15
Finisar Corporation announced the release of the WaveShaper 1000/SP 1µm Programmable Single-Polarization Filter. This new module shapes femtosecond and short picosecond optical pulses in fiber laser systems in precision micromachining, medical and spectroscopy applications, for example. The new 1µm WaveShaper module enables stable operation of short pulse laser systems in harsh environments by providing precise control of the spectral characteristics of the optical signal. The WaveShaper 1000/SP test instrument provides polarization-maintaining programmable filtering with full control of the amplitude and phase spectra. Covering a spectral window of about 45nm with a center wavelength around 1040nm, the WaveShaper 1Âµm module is optimized for Ytterbium-doped fiber lasers in a Master Oscillator Power Amplifier (MOPA) configuration. The WaveShaper module can be controlled using Finisar's intuitive WaveManager graphical user interface. Alternatively, Finisar's simple Application Programming Interface, which is available for both Windows and Linux operating systems, allows integration of the WaveShaper module in laser systems. The WaveShaper 1000/SP 1µm Programmable Single-Polarization Filter is available as bench-top unit (1000S) and as modular version for system integration (1000M). It can be ordered immediately and will start shipping in the second quarter of 2015. The WaveShaper 1000/SP 1µm Programmable Single-Polarization Filter will be on display at Photonics West 2015 from February 10 to 12 at the Moscone Center in San Francisco at Finisar's booth #4212. In addition, Finisar will showcase a selection of products at Photonics West, including the featured high-power detector: HPDV2120R. The detector is part of the high-speed photodetector and photoreceiver portfolio, designed to meet the advanced requirements of test & measurement, R&D, and the analog optics market worldwide.
Finisar Corporation Amends and Restates Bylaws
Dec 5 14
The board of directors of Finisar corporation approved and adopted, effective on that date, the amended and restated bylaws of the company. The bylaws revised certain advance notice requirements for stockholders to propose director nominations or other business to be brought before an annual or special meeting of stockholders, which requirements include, among other things, the following: Advance notice from a stockholder to properly bring director nominations or other business before an annual meeting shall be delivered to the secretary of the company at its principal executive offices not earlier than the close of business on the 120th day nor later than the close of business on the 90th day prior to the first anniversary of the preceding year’s annual meeting. Advance notice from a stockholder to nominate any person for election at a special meeting shall be delivered to the secretary of the company at its principal executive offices not earlier than the close of business on the 120th day prior to the special meeting nor later than the close of business on the later of the 90th day prior to the special meeting or the 10th day following the day on which public announcement is first made of the date of the special meeting. Any stockholder that proposes nominations or other business must be a stockholder of record both at the time of the delivery of the advance notice and at the time of the annual or special meeting. In addition to the information specified in the company’s original bylaws, a stockholder’s advance notice with respect to any proposed business (other than nominations) must set forth, among other things, the text of the proposal or business, a description of all agreements, arrangements and understandings between the stockholder and any other person in connection with the proposal and any derivative security or other arrangement in the company’s capital stock. In addition to the information specified in the company’s original bylaws, a stockholder’s advance notice with respect to each person that the stockholder proposes to nomination for election as a director must include, among other things, such nominee’s written consent to being named in the proxy statement as a nominee and to serving as a director if elected and a questionnaire and a written representation and agreement with respect to such nominee and any director nomination or other business shall not be made or acted upon if the stockholder (or a qualified representative of the stockholder) does not appear at the meeting to present the director nominee or other proposed business.
Finisar Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended October 26, 2014; Provides Earnings Guidance for the Third Quarter of Fiscal Year 2015
Dec 4 14
Finisar Corporation announced unaudited consolidated earnings results for the second quarter and six months ended October 26, 2014. For the quarter, the company reported revenue of $296,981,000 compared to $290,722,000 a year ago. Loss from operations was $7,259,000 compared to income from operations of $30,109,000 a year ago, primarily as the result of lower revenue levels and gross margins, and higher expenses related to resolving a pending litigation alleging patent infringement. Loss before income taxes and non-controlling interest was $9,751,000 compared to income before income taxes and non-controlling interest of $30,519,000 a year ago. Net loss attributable to the company was $11,361,000 or $0.11 per diluted share against net income attributable to the company of $29,965,000 or $0.29 per diluted share a year ago. Operating income - non-GAAP was $24,984,000 against $44,767,000 a year ago, primarily as the result of lower revenue levels and gross margins. Net income attributable to company - non-GAAP was $23,465,000 or $0.23 per diluted share against $43,767 or $0.43 per diluted share a year ago. Non-GAAP EBITDA was $46,409,000 compared to $59,911,000 a year ago. Capital expenditures were $28.4 million, this was less than prior forecast of approximately $45 million, primarily due to an approximate 1 quarter delay in the completion of the second building of new Wuxi, China factory as well as the delay of certain plant capital expenditures due to lower-than-expected revenue levels.
For the six months, the company reported revenue of $624,619,000 compared to $556,790,000 a year ago. Income from operations was $13,109,000 compared to $57,212,000 a year ago. Income before income taxes and non-controlling interest was $6,069,000 compared to $57,775,000 a year ago. Net income attributable to the company was $2,882,000 or $0.03 per diluted share against $55,976,000 or $0.56 per diluted share a year ago. Operating income - non-GAAP was $60,388,000 against $77,164,000 a year ago. Net income attributable to company - non-GAAP was $56,797,000 or $0.55 per diluted share against $75,036 or $0.74 per diluted share a year ago. Non-GAAP EBITDA was $101,856,000 compared to $106,774,000 a year ago.
The company indicated that for the third quarter of fiscal 2015 it currently expects revenues in the range of $297 to $312 million, non-GAAP gross margin of approximately 31%, non-GAAP operating margin of approximately 8.4% to 9.4%, and non-GAAP earnings per diluted share in the range of approximately $0.23 to $0.27. Non-GAAP taxes are estimated at 6% for the remainder of fiscal 2015. Capital expenditures are expected to be approximately $40 million in the third quarter, primarily driven by the continued construction of the second building of new Wuxi, China factory. The company expects non-GAAP gross margins to be approximately 31% as the benefit from growth and revenues is offset by the impact of 1 month of the annual telecom price reductions that typically take effect on January 1.