Type Public (NASDAQ: OCLR) Key people Greg Dougherty CEO) Revenue 566 million USD (2013) | Industry Optical components Website Oclaro.com Founded 1988 | |
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Operating income Net income $(122.7) million (2013) Stock price OCLR (NASDAQ) US$ 9.52 -0.06 (-0.68%)21 Mar, 4:00 PM GMT-4 - Disclaimer Headquarters San Jose, California, United States Subsidiaries Oclaro Technology plc, Oclaro (Switzerland) AG Profiles | ||
Oclaro rises following buy rating
Oclaro is a US-based business manufacturing and selling optical components. Formerly listed on the London Stock Exchange and a constituent of the FTSE 100 Index, the company now trades on the NASDAQ.
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History
The Company was founded in the United Kingdom in 1988 as Bookham Technology. It became the first company to make optical components that can be integrated into a silicon integrated circuit. In 2002 the Company expanded substantially when it acquired the optical components businesses of Marconi and Nortel Networks. In 2003 it acquired Cierra Photonics of Santa Rosa, California, and New Focus, a US business, for £118 million. In 2004 it acquired Onetta, Inc. and became a US-domiciled company. In March 2006, Bookham acquired Avalon Photonics based in Zurich, Switzerland
Avanex Corporation was incorporated in 1997 and had their initial public offering on 4 February 2000 raising $216 million, and was based in Fremont, California. By 2002 (after the dot-com bubble had burst) restructuring included shutting down a plant in Richardson, Texas. In 2003 Avanex acquired Alcatel Optronics France SA from Alcatel and the photonic technology business of Corning Incorporated.
In the first quarter of 2009 Bookham faced increased losses on sales reducing from $50 million to $47 million. In late April 2009 the Bookham and Avanex Corporations announced that they had merged, creating what they hoped would be one of the largest suppliers of optical components, modules and subsystems for telecommunications. The newly combined company was named Oclaro combining the words Optica and Clarity.
Opnext, Inc. was founded as a venture of the Clarity Group and optical researchers from Hitachi. Opnext raised over $253 million on their initial public offering on 15 February 2007. On 26 March 2012, Oclaro, Inc. announced the acquisition of Opnext. The merger between Oclaro and Opnext was approved by shareholders of each company on 23 July 2012.
On 12 September 2013, Oclaro, Inc. announced the sale of their Zurich Gallium Arsenide Laser Diode Business to II-VI Incorporated for $115 Million.As part of the agreement, II-VI has purchased the Oclaro Zurich, Switzerland company, which includes its GaAs fabrication facility, and also the corresponding high power laser diodes, VCSEL and 980 nm pump laser product lines, including intellectual property, inventory, equipment and a related R&D facility in Tucson, Arizona all of which are associated with these businesses. Revenues for the Zurich business were approximately $87 million for the fiscal year ended June 29, 2013.
The company designs, manufacturers and sells optical components primarily for fiber-optic communication networks.