Optical Communications Products, Inc. reported a net loss of $17 million for the second quarter of its fiscal year, the company announced. The fiber optic components company is in the midst of a turnaround plan and company executives expected margin volatility and significant transition-related charges throughout the fiscal year. “Transitions of this magnitude take time, and we are confident that the decisions we have made are the right ones to position OCP for a return to growth,” said CEO Philip Otto. The Woodland Hills-based developer reported a net loss of $17 million, or a loss of $0.15 per diluted share, on revenues of $16.4 million for the quarter ending March 31. That is a significant decrease from the net income of $2.1 million, or $0.02 per diluted share, on revenues of $18.3 million for the same period in 2006. The company had a net loss of $4.2 million for the first quarter of the fiscal year. OCP is currently embroiled in a takeover attempt by Oplink Communications, Inc. Fremont-based Oplink agreed in April to acquire a majority share in OCP from the Furukawa Electric Co. and subsequently offered to buy the remaining shares of the company. The board of directors of OCP in response passed a “poison pill” provision to stave off the buyout. Oplink challenged that maneuver through a lawsuit that remains pending.
