Oclaro, Inc. announced unaudited consolidated earnings results for the third quarter ended March 26, 2016. For the quarter, revenues were $101.1 million for the third quarter of fiscal 2016, compared with $83.0 million in the third quarter of fiscal 2015. GAAP operating income was $2.5 million for the third quarter of fiscal 2016. This compares with GAAP operating loss of $13.4 million in the third quarter of fiscal 2015. Non-GAAP operating income was $4.6 million for the third quarter of fiscal 2016, compared with a non-GAAP operating loss of $9.5 million in the third quarter of fiscal 2015. GAAP net income for the third quarter of fiscal 2016 was $0.1 million. This compares with GAAP net loss of $10.2 million in the third quarter of fiscal 2015. Non-GAAP net income for the third quarter of fiscal 2016 was $2.9 million. This compares with a non-GAAP net loss of $9.6 million in the third quarter of fiscal 2015. Adjusted EBITDA was $8.5 million for the third quarter of fiscal 2016, compared with negative adjusted EBITDA of $5.3 million in the third quarter of fiscal 2015. Income before income taxes was $565,000 against loss of $10,723,000 a year ago. Net capEx was $8.6 million.

For the fourth quarter ending July 2, 2016, the company expects revenues in the range of $115 million to $123 million, non-GAAP gross margin in the range of 27% to 30%, non-GAAP operating income in the range of $7 million to $11 million, interest and taxes of approximately $2 million to $3 million and non-GAAP EPS to be in the range of $0.04 to $0.07.