New Board Member for Oclaro

Oclaro, Inc. (OCLR) recently announced that the company appointed veteran Marissa Peterson to its Board of Directors.  Ms. Peterson earlier served California-based Sun Microsystems for 17 years where she was Executive Vice President, Worldwide Operations, Services & Customer Advocacy. She retired from Sun Microsystems Inc.  in 2005.

Ms. Peterson currently serves on the board of directors for Ansell Limited, Humana, Quantros and the Lucile Packard Children's Hospital at Stanford. Earlier, she was on the Board of Directors of SUPERVALU INC. She also runs an executive coaching practice focused on helping grow and develop leaders in the high-technology space.

Earlier, Oclaro reported revenues of $109.2 million in the fourth quarter of fiscal 2011, compared to $115.7 million in the third quarter of fiscal 2011.

Net loss came in at $36.7 million including $20 million of impairment charges following the company's annual review of goodwill, compared to a GAAP net loss of $9.8 million in the third quarter of fiscal 2011. EPS was (75 cents) versus (20 cents) in the previous quarter.

Excluding one-time items but including stock-based compensation expense, net loss per share came in at 24 cents, better than the Zacks Consensus Estimate of 15 cents.

For fiscal 2011, revenues came in at $466.5 million, compared to $392.5 million in fiscal 2010.  Net loss came in at $46.4 million versus a net income of $12.4 million in 2010.

Going forward, management expects revenues between $103 million and $113 million in the first quarter of fiscal 2012. Gross margin is projected at around 18% – 24%. 

Read the full analyst report on OCLR