JDS Uniphase Restates Quarterly Results
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JDS Uniphase Corp. restated its fiscal third- and fourth-quarter results to write down an added $5.3 billion in goodwill from acquisitions.
The maker of fiber-optic parts has now written down $50.1 billion in goodwill and other intangible assets in the year ended June 30, leaving it with $7 billion on its books, according to regulatory filings.
In July, JDS reported an annual loss of $50.6 billion, including write-downs.
The San Jose-based company said it also boosted inventory reserves and other charges by $76 million for the fourth quarter and fiscal year. JDS shares rose 35 cents to $5.70 on Nasdaq.
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