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Q1 fy15 earnings call slides draft 9-3-2014
- 1. World’s Largest Supplier of Optical Solutions for the Communications Industry
Q1 FY15 FINANCIAL RESULTS CONFERENCE CALL
September 4, 2014
- 2. Financial Presentation and Forward Looking Statements
Forward Looking Statements
This presentation contains forward-looking statements as defined under the Private Securities Litigation Act of 1995. Except for historical information, the matters discussed in this presentation contain forward-looking statements regarding future trends or events that involve risks and uncertainties. Please be aware that these statements are only predictions and that actual events or results may differ materially. Please refer to the Company’s Form 10-K and other interim reports as filed with the Securities and Exchange Commission for a discussion of those risk factors. The Company assumes no obligation to update the information in this presentation.
GAAP Reconciliation
References to financial measures in this presentation will include references to non- GAAP financial measures. In addition to reporting financial results in accordance with U.S. GAAP, Finisar provides supplemental information regarding its operating performance on a non-GAAP basis. Finisar believes this supplemental information provides investors and management with additional insight into its underlying core operating performance by excluding a number of non-cash and cash charges, as well as infrequently occurring gains or losses. Finisar provides a complete reconciliation between GAAP and non-GAAP financial information in its earnings release which is posted in the investors relations section of the company’s web site www.finisar.com.
Financial guidance for fiscal Q2FY15 is per earnings call on September 4, 2014 and is not being updated or confirmed as of any other date.
© 2014 Finisar Corporation
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- 3. Q1 FY15 Highlights
Q1 FY15 revenues of $327.6 million, an increase of 7.1% over Q4
Datacom revenues increased $18.2 million, or 8.2%, over Q4
Telecom revenues increased $3.4 million, or 4.1%, over Q4
Q1 FY15 non-GAAP financial measures
Gross margin of 32.0% compared to 34.2% in Q4
Operating income $35.4 million compared to $38.9 million in Q4
Operating margin 10.8% compared to 12.7% in Q4
Earnings per diluted share of $0.32 compared to $0.36 in Q4
Strong balance sheet
Cash and short term investments - $497.4M as of July 27, 2014
© 2014 Finisar Corporation
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- 4. Quarterly Financial Results (GAAP)
Revenue
$266.1M
$306.0M
$327.6
7.1%
Q1FY14
Q4FY14
Q1FY15
Q1FY15/Q4FY14 Change
$64.3M
$75.5M
$78.5M
Total Operating Expense
$27.1M
$21.1M
$20.4M
(3.5)%
Operating Income
$26.0M
$28.8M
$14.2M
(50.5)%
Net Income
$0.26
$0.28
$0.14
$(0.14)
EPS (diluted)
Gross Margin (%)
34.3%
31.6%
30.2%
(1.4)%
4.0%
© 2014 Finisar Corporation
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- 5. Quarterly Financial Results (non-GAAP)
Revenue
$266.1M
$306.0M
$327.6M
7.1%
Q1FY14
Q4FY14
Q1FY15
Q1FY15/Q4FY14 Change
$60.9M
$65.9M
$69.4M
Total Operating Expense
$32.4M
$38.8M
$35.4M
(9.1)%
Operating Income
$31.3M
$37.0M
$33.3M
(10.0)%
Net Income
$0.31
$0.36
$0.32
$(0.04)
EPS (diluted)
Gross Margin (%)
35.1%
34.2%
32.0%
(2.2)%
5.4%
© 2014 Finisar Corporation
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- 7. Q2 FY15 Quarterly Guidance (non-GAAP)
Revenue
$327.6
$305-320
Gross margin
32.0%
~31-32%
Operating profit
$35.4
Operating margin
10.8%
~8.5%-9.5%
EPS
$0.32
$0.23-$0.27
© 2014 Finisar Corporation
$ Millions (except EPS)
Financial guidance for fiscal Q2FY15 is per earnings call on September 4, 2014 and is not being updated or confirmed as of any other date.
Q2-15
Est.
Q1-15
Actual
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