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Oclaro profit misses consensus by 87.4% in fiscal Q3

Oclaro Inc. said its normalized net income for the fiscal third quarter ended March 26 came to $225,630, compared with a loss of $5.4 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.2% from negative 6.5% in the year-earlier period.

Total revenue climbed 21.7% on an annual basis to $101.0 million from $83.0 million, and total operating expenses climbed from the prior-year period to $98.8 million from $94.3 million.

Reported net income came to $89,000, or 0 cents per share, compared to a loss of $9.8 million, or a loss of 9 cents per share, in the year-earlier period.