JDSU enables broadband and optical innovation in the communications, commercial and consumer markets. JDSU is a leading provider of communications test and measurement solutions and optical products for telecommunications service providers, cable operators, and network equipment manufacturers. JDSU is also a leading provider of innovative optical solutions for medial/environmental instrumentation, semiconductor processing, display, brand authentication, aerospace and defense, and decorative applications.
Industry:Communications Components Sector: Computer and Technology Fiscal Year End:June Last Reported Quarter:03/31/12 Next EPS Date:08/15/12
Capital Structure Solvency and Cash Flow
Balance Sheet
Exiting 1Q11, JDSU had cash and cash equivalent, including short-term investment and restricted cash of $620.0 million versus $600.1 million in 4Q10. Accounts receivable were approximately $297.0 million versus $271.8 million in 4Q10. Inventories were $136.9 million versus $125.7 million in 4Q10.
On the liabilities side, long-term debt was $271.6 million versus $267.1 million in 4Q10.
Cash Flow
Cash flow from operating activities in 1Q11 was $35.7 million versus $17.1 million in 1Q10. Capital expenditure in 1Q11 was ($23.3) million, compared with ($5.9) million in 1Q10. In 1Q11, JDSU generated free cash flow of roughly $12.4 million versus $11.2 million in 1Q10.
Last edited Fri Jan 21, 2011 02:46 AM by MadhubantiMaitra (Zacks Investment Research)
Governance Social Responsibility and Employee Relations
On May 3, 2010, JDSU announced the successful closure of its acquisition of the Network Solutions communications test business of Agilent. The acquisition includes the unit’s innovative Long Term Evolution (LTE), or 4G, network verification and deployment products. JDS Uniphase announced its intent to acquire Agilent’s Network Solutions business for $165 million in cash on February 11, 2010.
The business acquired from Agilent had annual revenue for its fiscal year ending October 31, 2009 of $162 million. The revenues were generated from global sales of service assurance monitoring systems, drive test and network protocol test instruments, which were used by communications service providers and equipment manufacturers worldwide. The business, including approximately 700 employees in Colorado, the U.K., Singapore and Beijing, will be integrated into the existing Solutions Division of JDSU’s Communications Test and Measurement business segment. JDS Uniphase expects the acquisition to be accretive to non-GAAP earnings per share on a quarterly basis and for the full fiscal year starting in FY11.
Last edited Fri Jan 21, 2011 02:48 AM by MadhubantiMaitra (Zacks Investment Research)
Recent and Upcoming Events
Major Risks
Narrow margins: With competitive pricing and low margins, the new products are potential risks for JDSU.
Low capacity utilization: Problem of excessive supply in optical communication is a concern.
Volatility in demand: In spite of the growth in communication business segment, the uneven nature of growth in optical networks, and the continuous development of new technologies can be disastrous.
Limited visibility: Due to the seasonal buying patterns, it is still difficult to predict revenue trends. Further, the restructuring activities make the growth rate analysis a difficult task.
Last edited Fri Jan 21, 2011 02:53 AM by MadhubantiMaitra (Zacks Investment Research)
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Last Modification: Thursday 03 of June, 2010 07:34:11 CDT by WikiMigrationBot.
