OCP Execs Resign; Company Posts 4Q Loss

The chief technology officer and corporate development officer of Optical Communications Products Inc. will leave the Woodland Hills company at the end of the month, it was announced Thursday. The departures bring to three the number of top executives leaving the optic component company. Muoi Van Tran and Susie L. Nemeti helped found the fiber optic component company in 1991. Tran, the chief technology officer and former company president, stays on as chairman of the board of directors and both he and Nemeti will stay in consulting roles during the transition to new leadership. Nemeti served as chief financial officer until May. The resignations follow that of Chief Operating Officer and co-founder Mohammad Ghorbanali who left in October. “We wish to express our deep gratitude to Dr. Tran, Ms. Nemeti and Mr. Ghorbanali for their innumerable contributions over the years and instrumental involvement in building OCP to what it is today,” President and CEO Philip F. Otto said in a statement. “On behalf of the Board, we wish them every success in their future endeavors.” Also on Thursday, the company released its financial earning for the fourth quarter and full fiscal year ending on Sept. 30. For the fourth quarter the company has a net loss of $1.3 million, or an earnings loss of $0.01 per diluted share, on revenues of $19.1 million. That is a significant drop from the net income of $1.6 million, or $0.01 per diluted share, on revenues of $14.9 million posted for the fourth quarter of 2005. For the full fiscal year, the company has a net profit of $1.4 million, or $0.01 per diluted share, on revenues of $70.1 million. That is an increase over the revenues of $941,000, or $0.01 per diluted share, on revenues of $56 million, reported by the company for fiscal years 2005.