Bad News For JDS Uniphase

from the um.--wow.--no.--really-wow. dept

Okay, I tend not to post earnings news unless there’s something really interesting about them. Here’s one that fits that category. It was shocking enough that JDS Uniphase lost almost $500 million this past quarter. That’s quite a bit of money to lose. However, then you get to the real problems. They wrote off $45 billion in bad investments. Yes, read the number again. $45 billion. So, yeah, it’s no surprise that they’ll be laying off 2/3 of their staff. I’m surprised they’re not just shutting down for the sheer shame of it all. Okay, so some of that is due to the oddities of Canadian accounting laws. However… $45 billion no matter how you look at it is insane. $45 billion!

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