JDSU » Topics » RESULTS OF OPERATIONS

This excerpt taken from the JDSU DEF 14A filed Sep 29, 2006.

RESULTS OF OPERATIONS

     The results of operations for the current period are not necessarily indicative of results to be expected for future years. The following table sets forth the components of our Consolidated Statements of Operations as a percentage of net revenue:

     Years Ended June 30,
     2006    2005    2004
Net revenue    100 %    100 %    100 % 
Cost of sales    69     82     77  
Amortization of acquired developed technologies    3     2     2  
Gross profit    28     16     21  
Operating expenses:             
       Research and development    13     13     16  
       Selling, general and administrative    27     22     23  
       Amortization of other intangibles    2     1     1  
       Acquired in-process research and development    2          
       Reduction of goodwill    2     8      
       Reduction of intangibles and loss on long-lived assets        4     8  
       Restructuring charges    3     3     2  
Total operating expenses    49     51     50  
Loss from operations    (21 )    (35 )    (29 ) 
Interest and other, net    2     (1 )    4  
Gain on sale of investments    6     3     6  
Reduction in fair value of investments        (2 )    (1 ) 
Loss on equity method investments        (1 )    (1 ) 
Loss before income taxes and cumulative effect of an accounting change    (13 )    (36 )    (21 ) 
Provision of (benefit for) income taxes        1     (3 ) 
Loss before cumulative effect of an accounting change    (13 )    (37 )    (18 ) 
Cumulative effect of an accounting change             
Net loss    (13 )%    (37 )%    (18 )% 

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