Oclaro (Nasdaq: OCLR) is expected to report Q1 earnings around Aug. 4. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Oclaro's revenue will increase 5.6% and EPS will remain in the red.

The average estimate for revenue is $111.7 million. On the bottom line, the average EPS estimate is -$0.10.

Revenue details
Last quarter, Oclaro logged revenue of $104.4 million. GAAP reported sales were 4.3% lower than the prior-year quarter's $109.2 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at -$0.21. GAAP EPS were -$0.08 for Q4 versus -$0.75 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 20.5%, 210 basis points worse than the prior-year quarter. Operating margin was -14.1%, 340 basis points worse than the prior-year quarter. Net margin was -3.8%, 2,990 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $471.8 million. The average EPS estimate is -$0.09.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 125 members out of 156 rating the stock outperform, and 31 members rating it underperform. Among 32 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 27 give Oclaro a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Oclaro is hold, with an average price target of $5.15.

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