JDS Uniphase's sales to end-June were USD1.1bn for the fiscal year (down 66%) and USD222m for its Q4 (down 15% on Q3 and 63% on a year ago), including about USD21m (10%) from fees paid to cancel contracts.

The company says it will cut an "undetermined number of jobs" following cuts of 29,000 since early 2001. Next quarter, JDSU expects USD10–20m of cancellation charges and sales of USD200–210m. It needs to realise USD260-270m to return to profit. The company has USD1.4bn in cash and other liquid assets.