Bookham Technology has announced it may cut more jobs following a large drop in Q4 profits. The company expects restructuring pressure to remain” given the tough market conditions and the integration of the Optical components business it bought from Marconi.
Bookham Technology has announced it may cut more jobs following a large drop in Q4 profits.
Revenues in the fourth quarter were £2.1 million ($3.1 million) down 82% from the fourth quarter of 2000, down 12% sequentially from the third quarter. Total revenues for 2001 were £21.9 million ($32.0 million), down 17% from 2000.
Commenting on the results, Giorgio Anania, President and Chief Executive Officer, said: The acquisition of Marconi’s optical component business lays the foundation for the next generation of optical networking and accelerates our capability to offer integrated optical components and modules. It expands our product line, increases our top line and puts us in a much better competitive position. The supply agreement entered into with Marconi enhances sales visibility in this difficult time for the market. In the combined business, we continue to focus heavily on customer design-ins and maintaining good control of costs. This combination should make us ready for profitable upturn when market growth returns.