Oclaro Agrees to Sell Thin Film Filter Business and Interleaver Product Line

Agreement strengthens existing relationship with II-VI Incorporated and Photop Technologies, Inc.

 Oclaro, Inc. (OCLR), a tier-one provider and innovator of optical communications and laser solutions, today announced that it has signed a definitive agreement to sell the assets of its Santa Rosa thin film filter business to Photop Technologies, Inc., a wholly-owned subsidiary of II-VI Incorporated (IIVI), a global leader in engineered materials and opto-electronic components. Pursuant to the agreement, Oclaro will also sell its interleaver product line to Photop Koncent, Inc. (FuZhou), a wholly owned subsidiary of II-VI. Both transactions are expected to close December 3, 2012.

MEMSIC Announces Receipt of Unsolicited Non-Binding Proposal

MEMSIC, Inc. (MEMS), a leading MEMS solution provider, today announced that its Board of Directors has received an unsolicited, non-binding proposal from IDG-Accel China Growth Fund II L.P., for itself and on behalf of its affiliated funds and certain nominees (collectively, "IDG"), to acquire all outstanding shares of common stock of MEMSIC not currently owned by IDG or its affiliates for cash in the amount of $4.00 per share.

In response to the proposal, the Company's Board of Directors has established a Special Committee of the Board comprised of its three independent directors.

Applied Micro Circuits Corporation Reports Second Quarter Fiscal 2013 Financial Results

Applied Micro Circuits Corporation (AMCC) ("AppliedMicro") today reported its financial results for the second quarter of fiscal 2013, ended September 30, 2012.

• Q2 2013 net revenues were $46.3 million, up approximately 12% sequentially and down approximately 29% year over year.
• Q2 2013 GAAP net loss was $21.6 million or $0.33 per share compared to net loss of $23.4 million or $0.37 per share for the first quarter of fiscal 2013.
• Q2 2013 non-GAAP EPS was $0.16 per share on net loss of $10.5 million, compared to a loss of $0.18 per share on a net loss of $11.4 million, for the first quarter of fiscal 2013.
• Total cash, cash equivalents and short-term investments was approximately $90 million as of September 30, 2012 compared to $96 million as of June 30, 2012.

  Published: 26 October 2012

  Written by Editor

  Nasdaq   High Tech   Financial Results   Up on News   Interesting News  

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Cree Reports Financial Results for the First Quarter of Fiscal Year 2013

Quarterly Revenue increased 17% year-over-year to a record $316 million
Quarterly Net Income increased 26% year-over-year to $16.1 million

Cree, Inc. (CREE), a market leader in LED lighting, today announced revenue of $315.8 million for its first quarter of fiscal 2013, ended September 23, 2012. This represents a 17% increase compared to revenue of $269.0 million reported for the first quarter of fiscal 2012 and a 3% increase compared to the fourth quarter of fiscal 2012. GAAP net income for the first quarter was $16.1 million, or $0.14 per diluted share, an increase of 26% year-over-year compared to GAAP net income of $12.8 million, or $0.11 per diluted share, for the first quarter of fiscal 2012.