Product category: Optical Transceivers, Transponders and Repeaters
News Release from: Bookham
Edited by the Electronicstalk Editorial Team on 5 July 2002
Bookham realigns manufacturing resources
Taking advantage of its acquisition of Marconi's optical component business earlier this year, Bookham Technology is to concentrate its worldwide production in two out of its current four facilities
Taking advantage of its acquisition of Marconi's opticalcomponent business earlier this year, Bookham Technology is toconcentrate its worldwide production in two out of its currentfour facilities, manufacturing ASOC components at its Miltonfacility and active components at its Caswell site. Through anongoing process efficiency programme, the company believes thatit can now handle component production rates of GBP 200 million($306 million) at Milton and similar levels at Caswell,permitting it to close its other two facilities in Maryland, USand Swindon, UK.
This article was originally published on Electronicstalk on 5 July 2002 at 8.00am (UK)
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The company believes that these closures willreduce costs without adverse impact on manufacturing capacity oron future sales ramp-up.
The company estimates that its ongoingbroader cost reduction efforts, of which the facilitiesrealignment is an important part, will reduce its quarterly cashburn rate to between GBP 10 million and GBP 12 million ($15million and $18 million), excluding restructuring costs, in thefourth quarter 2002.
Following the completion of this costreduction programme, the company expects to incur exceptionalcharges of GBP 8 million to GBP 12 million ($12 million to $18million).
The company will announce its second quarter 2002results on 30th July 2002 through its normal scheduled pressrelease and conference call.
The company's revenue for thequarter ended 30th June 2002 was GBP 7.1 million ($10.9 million)up 27% from first quarter 2002 (GBP 5.6 million; $8.6 million),in line with average analyst expectations.
The company alsoreduced its quarterly cash burn to GBP 13.8 million ($21.1million) from GBP 22.2 million ($33.4 million) in the firstquarter 2002, and ended the quarter with GBP 148.8 million($227.7 million) in cash.
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