Finisar Corporation provides optical subsystems and components that are used in data communication and telecommunication applications. The company’s optical subsystems consist primarily of transmitters, receivers, transceivers, transponders and active optical cables that provide the fundamental optical-electrical, or optoelectronic, interface for interconnecting the electronic equipment used in building communication networks, including the switches, routers and servers used in wireline networks, as well as the antennas and base stations for wireless networks. The company also provides products known as wavelength selective switches (WSS). WSS products are sometimes combined with other components and sold as linecards that plug into a system chassis referred to as a reconfigurable optical add/drop multiplexer (ROADM). Products The company’s family of optical subsystem products consists of transmitters, receivers, transceivers, transponders, and active optical cables principally based on the Gigabit Ethernet, Fibre Channel, optical transport network (OTN), and synchronous optical networking/synchronous digital hierarchy (SONET/SDH) protocols. A transmitter uses a laser plus direct or indirect modulation to convert electrical signals into optical signals for transmission through fiber optics. Receivers incorporating photo detectors convert incoming optical signals into electrical signals. A transceiver combines both transmitter and receiver functions in a single device. A transponder includes an IC to provide the data serializer-deserializer function that would otherwise reside in the customer’s equipment if a transceiver is used. An active optical cable combines two transceivers and a fiber optic cable that are built into an integrated, connectorized cable assembly that is sold in various cable lengths. The company’s optical subsystem products perform these functions with data integrity and support a range of protocols, transmission speeds, fiber types, wavelengths, transmission distances, physical configurations, and software improvements. For data communication applications that rely on the Fibre Channel standard, the company provides a range of optical subsystems for transmission applications at 1 to 16 gigabit per second (Gbps). For data communication applications that rely on the Ethernet standard, it provides a range of optical subsystems for transmitting signals at 1 to 100 Gbps using the SFP, SFP+, XFP, X2, QSFP, CFP, CFP2, and CFP4 form factors. For OTN and SONET/SDH-based telecommunication applications, the company supplies optical subsystems that are capable of transmitting at 0.155, 0.622, 2.5, 10, 40, and 100 Gbps. The company also offers a line of optical subsystems for telecommunication applications using wavelength division multiplexing (WDM) technologies. Its products include coarse WDM transceivers in the SFP form factor and dense WDM (DWDM) transceivers in the SFP, SFP+ XFP, and CFP form factors. These products include both fixed wavelength transceivers and tunable transceivers that are capable of tuning across a range of wavelengths in the C- and L-Bands. The company manufactures active and passive optical components, including vertical cavity surface emitting lasers, Fabry-Perot lasers, distributed feedback lasers, tunable lasers, positive intrinsic negative detectors, high-speed integrated waveguide detectors, Mach Zehnder Modulators, fused fiber couplers, isolators, filters, polarization beam combiners, interleavers, and amplifiers. Most of these optical components are used internally in the manufacture of optical subsystems. The company sells some of these components in the ‘merchant market’ to other subsystems manufacturers. The company also offers products used in building fiber-to-the-home/curb networks and for parallel optics applications, such as backplanes for switches and routers. It offers WSS and ROADM linecard products for wavelength management in DWDM telecommunication networks. Its WSS and ROADM linecard product offering ranges from 1x2, 1x4, and 1x9 products up to higher output fiber port counts in its latest 1x23 and 2x1x20 products. Customers The company sells its optical products primarily to manufacturers of storage systems, networking equipment, and telecommunication equipment, such as Alcatel-Lucent; Brocade; Ciena; Cisco Systems; EMC; Emulex; Ericsson; Fujitsu; Hewlett-Packard Company; Huawei; IBM; Juniper; Nokia-Siemens; and Qlogic. These customers, in turn, sell their systems to businesses and to wireline and wireless telecommunication service providers and CATV operators, collectively referred to as carriers. Sales and Marketing For sales of optical subsystems and components, the company utilizes a direct sales force augmented by 3 world-wide distributors, 17 international distributors, 4 domestic distributors, 20 domestic manufacturers’ representatives and 4 international manufacturers’ representatives. Research and Development As of April 27, 2014, the company’s research and development expenses included $183.4 million. Intellectual Property The company owns approximately 2,000 issued U.S. and foreign patents, and has approximately 350 pending U.S. and foreign patent applications. Competition The company’s principal competitors for optical transceivers sold for data communication applications include Avago Technologies; JDS Uniphase; Oclaro; and Sumitomo. Its principal competitors for optical transceivers sold for telecommunication applications include JDS Uniphase; Oclaro; and Sumitomo. The company’s principal competitors for WSS ROADM products include CoAdna; JDS Uniphase; and Oplink. History Finisar Corporation was founded in 1987. The company was incorporated in California in 1987 and reincorporated in Delaware in 1999.
(FNSR:Consolidated Issue Listed on NASDAQ Global Select )
1389 Moffett Park Drive
Sunnyvale, CA 94089
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