Avanex announces Q4 revenues of $31.9 million and fiscal-year revenues of $106.9 million

Fiber Optics Weekly Update, August 6, 2004

Avanex Corporation reported results for its fourth fiscal quarter and for its full fiscal year ended June 30, 2004.

The company said that fourth quarter net revenues were $31.9 million, an increase of $1.8 million, or 6 percent, over the company's net revenues of $30.1 million in the prior quarter ended March 31, 2004. Net revenues for the quarter ended June 30, 2004 increased $26.4 million from $5.5 million in the quarter ended June 30, 2003. Net revenues for the full year ended June 30, 2004 increased by $85.5 million to $106.9 million from $21.4 million in the prior year. The increase in net revenues over the prior year was primarily due to the result of the acquisitions completed in fiscal year 2004.

The company reported a net loss of $21.6 million, or $0.15 per share, for the quarter ended June 30, 2004, which includes a restructuring benefit of $4.8 million, compared to a net loss of $41.0 million, or $0.29 per share, for the quarter ended March 31, 2004, which included a restructuring charge of $9.1 million, and compared to a net loss of $6.6 million, or $0.10 per share, for the quarter ended June 30, 2003. Net loss for the full year ended June 30, 2004 was $124.1 million compared to a net loss of $102.9 million in the prior year. The increase in net loss over the prior year was primarily due to the result of acquisitions completed in fiscal year 2004.

For more information, visit www.Avanex.com