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Oclaro swings to profit in fiscal Q2

Oclaro Inc. said its normalized net income for the fiscal second quarter ended Dec. 26, 2015, amounted to $688,750, compared with a loss of $7.7 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 rose to 0.7% from negative 8.9% in the year-earlier period.

Total revenue grew 8.4% year over year to $94.1 million from $86.8 million, and total operating expenses fell 7.1% year over year to $91.6 million from $98.7 million.

Reported net income came to $157,000, or 0 cents per share, compared to a loss of $4.3 million, or a loss of 4 cents per share, in the prior-year period.