The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst
: I guess if I can start with the orders, I think the -- just the rough math indicates your orders last quarter were about 900 million, then moderating
to about 500 million. But it's largely a function of lead times coming in. Is there a bit more visibility in terms of when the orders start to stabilize on
a sequential basis? Just -- and maybe if you can share any insights in terms of what have been the early order trends in the quarter were. When do
you think the stabilized as lead times sort of the duration of the order book becomes more consistent going forward? And I have a follow-up.
Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst
: Okay. Got it. And for my follow-up, if I can ask you to sort of dig into the service provider timing sort of issues that you're seeing a bit more in North
America. I mean, is it more of delays of complete projects that you're seeing from them? Or is it more of a downsizing of how much capacity that
they're looking to deploy? And if you can compare it to on a related magnitude, how much of a push out are you seeing greater to the web scalers
that you had highlighted the issue with last quarter.
Question: David Vogt - UBS Investment Bank, Research Division - Analyst
: I had a near-term question and then maybe a longer-term question. I think midway through the quarter, you announced that, obviously, you were
going to make the quarter. You weren't affected by some of your partners sort of variable -- variability in their numbers. But I think I also heard Jim
say that improvements in components late in the quarter really drove sort of the upside. So can you maybe just help us understand how the quarter
is tracking from a linearity perspective? And was the upside in the quarter, I guess, in the third month?
And then I'll give you the second one as well. From a long-term perspective, I think I also heard Jim talk about, expect the fiscal '24 to be a relatively
strong year as well. I would imagine that would mean -- I would take that to mean that's above the longer-term average in the growth of the optical
industry and your ability to take share. If that's right, I'm just trying to think, does that mean we get back to a more normalized cadence in the out
year, let's say, call it, fiscal '25, where we're no longer in this transitionary period?
|
