In terms of specific segments of its business, Finisar says sales of its optical components and subsystems dropped by 32 percent compared to the second quarter of 2001, while sales of network test and monitoring systems were up 37 percent in the quarter compared to the same period last year and 12 percent compared to the previous quarter.
The company was hit with a lot of merger-related costs, including $31.4 million in amortization of acquired intangible assets, $2.5 million in amortization of deferred compensation, and $6.8 million in amortization of acquired developed technology. These costs primarily reflected a series of acquisitions -- of Demeter Technologies, Medusa Technologies, Sensors Unlimited Inc., Shomiti Systems Inc., and Transwave Fiber, all of which occurred between Finisar's second fiscal quarter of 2001 (which ended October 31, 2000) and the first fiscal quarter of 2002 (which ended July 31, 2001).
Eugénie Larson, special to Byte and Switch
http://www.byteandswitch.com
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