Why Oclaro, Inc. Shares Lost 14% in August
Stock in optical networks component provider Oclaro, Inc. (NASDAQ: OCLR) fell 14% last month, according to data from S&P Global Intelligence.
Oclaro shares lost value in August after the company reported fiscal fourth-quarter 2017 earnings on Aug. 2. Revenue grew 19.3% over the prior-year quarter. However, that was lower than the company's ending full-year growth rate of 47%.
The fourth quarter top line was affected by product portfolio transitions and a sequential revenue decline of $11 million in China, one of the company's most important markets. The Chinese market for Oclaro's products, which enable high-bandwidth communication for applications such as video streaming and cloud computing, has weakened over the past few quarters. Management had signaled the year-end decline, and thus it wasn't a surprise to investors, but still, shareholders are uneasy as they wait for industry demand in this crucial region to pick up.
Source: Fool.com
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