NUFO to sell 3.5 mln shrs (NUFO) by Michael Baron
New Focus Inc. (NUFO) is diving 32, or 20.8 percent, to 122 1/8 after announcing plans for a stock offering and reporting its second
quarter results. The Santa Clara, Calif., fiber-optic firm said it will file a registration statement with the Securities and Exchange
Commission for a public offering of 3.5 million shares. Shareholders will be selling up to 500,000 of these shares. New Focus said it plans
to use the proceeds from the offering for general corporate purposes. On the earnings front, New Focus reported a pro forma
second-quarter loss of $6.6 million, or 13 cents a share, and narrower than last year's pro forma loss of $1.5 million, or 6 cents a share.
The company said it expects to experience "solid sequential growth between the second and third quarters." It also plans to significantly
increase its capital spending in the second half to accelerate the growth of its manufacturing capacity.