<SUBMISSION>
<ACCESSION-NUMBER>0000912093-01-500022
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20010726
<ITEMS>7
<ITEMS>9
<FILING-DATE>20010726
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>JDS UNIPHASE CORP /CA/
<CIK>0000912093
<ASSIGNED-SIC>3674
<IRS-NUMBER>942579683
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-22874
<FILM-NUMBER>1689952
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>210 BAYPOINTE PKWY
<CITY>SAN JOSE
<STATE>CA
<ZIP>95134
<PHONE>4084341800
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>210 BAYPOINTE PARKWAY
<CITY>SAN JOSE
<STATE>CA
<ZIP>95134
</MAIL-ADDRESS>
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<FILENAME>form8k_072601.htm
<DESCRIPTION>FORM 8-K ON 7/26/01
<TEXT>

<HTML>
<head>
<TITLE>8K</TITLE>
</head>
<body>

<p align=center><IMG SRC="jds.gif" HEIGHT="55" WIDTH="275"></p>
<p align="center"><font size="3"><strong>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</strong><br>
Washington, D.C. 20549</font></p>

<p align="center"><font size="3"><strong>FORM 8-K</strong></font></p>

<p align="center"><font size="3"><strong>CURRENT REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</strong></font></p>

<p align="center"><font size="3"><strong>
    Date of Report (Date of earliest event reported):&nbsp;  July 26, 2001</strong></font></p>


<p align="center"><font size="5" color="#0000FF"><strong>
                               <u>JDS Uniphase Corporation</u>
</strong></font><br>
<font size="2">
               (Exact name of Registrant as Specified in its Charter)
</font></p>
<p align="center"><font size="3"><strong>
                       <u>Commission file number 0-22874</u>
</strong></font></p>
<P>&nbsp;
<TABLE WIDTH="100%">
<TR>
<TD ALIGN=CENTER>
<font size="3">
<strong><u>Delaware</u></strong>
</font>
</TD>
<TD ALIGN=CENTER>
<font size="3">
<strong><u>94-2579683</u></strong>
</font>
</TD>
</TR>
<TR>
<TD ALIGN=CENTER>
<font size="2">
&nbsp; (State or Other Jurisdiction of Incorporation or Organization)&nbsp;
</font>
</TD>
<TD ALIGN=CENTER>
<font size="2">
(IRS Employer Identification Number)
</font>
</TD>
</TR>
</TABLE>
<BR>



<p align="center"><font size="3"><strong>
                        210 Baypointe Parkway<br>
                    <u> San Jose, California  95134</u>
</strong></font><br>

<font size="2">
        (Address of Principal Executive Offices including Zip Code)
</font></p>

<p align="center"><font size="3"><strong><u>
                                   (408) 434-1800</U>
</strong></font><br>

<font size="2">
                 (Registrant's Telephone Number, Including Area Code)
<br>
<br>
<font size="3"><strong><u>
                        Not Applicable</U>
</strong></font><br>
(Former name, former address and former fiscal year if changed
 since last report)

</font></p>

<DIV align=left>
<HR align=left SIZE=2 width="100%">
</DIV>


<p><b>Item 7.&nbsp;&nbsp;Financial Statements and Exhibits.</b></p>

<PRE>
Exhibit 99.1    Information contained in a script in connection with a conference
                call to be delivered by the officers of the Registrant on July
                26, 2001 furnished pursuant to Item 9 of this Form 8-K.

Exhibit 99.2    Press Release dated July 26, 2001.
</PRE>

<p><b>Item 9.&nbsp;&nbsp;Regulation FD Disclosure.</b></p>

<p>On July 26, 2001, officers of JDS Uniphase Corporation, a Delaware corporation
(the  &#147;Registrant&#148;),  will  deliver a  conference  call that  includes
information  contained  in a script  which is  furnished as Exhibit 99.1 to this
Report on Form 8-K and incorporated herein by reference and a press release that
is furnished as Exhibit 99.2 to this Report on Form 8-K and incorporated  herein
by reference.</p>

<DIV align=left>
<HR align=left SIZE=2 width="100%">
</DIV>

<p align=center><b>SIGNATURES</b></p>

<p>Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.</p>


<p align=center><b>JDS UNIPHASE CORPORATION</b></p>


<TABLE border=0 cellPadding=0 cellSpacing=0 width="100%">
  <TR>
    <TD width="38%"></TD>
    <TD width="2%"></TD>
    <TD width="60%"></TD></TR>
  <TR vAlign=top>
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align=left>
/s/ Michael C. Phillips
</TD></TR></TABLE>


<TABLE border=0 cellPadding=0 cellSpacing=0 width="100%">
  <TR>
    <TD width="38%"></TD>
    <TD width="62%"></TD></TR>
  <TR vAlign=top>
    <TD>&nbsp;</TD>
    <TD align=left>
      <HR align=left SIZE=1>
    </TD></TR>
  <TR vAlign=top>
    <TD>&nbsp;</TD>
    <TD align=left>
                                  Michael C. Phillips
</TD></TR>
  <TR vAlign=top>
    <TD>&nbsp;</TD>
    <TD align=left>
Senior Vice President,<br>
Business Development,<br>
General Counsel
 </TD></TR></TABLE>

<p>Date:  July 26, 2001<P>

<DIV align=left>
<HR align=left SIZE=2 width="100%">
</DIV>

<p ALIGN=center><b>EXHIBIT INDEX</b></p>



<PRE>
Exhibit
Number          Description
=======         ===========

Exhibit 99.1    Information contained in a script in connection with a conference
                call to be delivered by the officers of the Registrant on July
                26, 2001 furnished pursuant to Item 9 of this Form 8-K.

Exhibit 99.2    Press Release dated July 26, 2001.

</PRE>
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<TITLE>Exhibit 99.1</TITLE>
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<body>

<p align=right><b>Exhibit 99.1</b></p>


<H2 ALIGN=CENTER>Confidential &#150; JDS Uniphase Conference Call Script -- 07/26/01</H2>


<H3 ALIGN=LEFT>JOZEF</H3>

<P>Welcome to all of you on
this call. I am joined by Greg Dougherty, our Chief Operating Officer, and Tony
Muller, our Chief Financial Officer. This afternoon we would like to discuss
with you our fourth quarter and year-end results and offer our perspective on
our markets and the actions we are taking to deal with the present downturn and
prepare for future growth. Before we get into the details of the quarter, I
would like to emphasize that we remain positive about the optical
telecommunications market. While the downturn is exceptionally severe, it does
not affect my conviction that the telecommunications market will return to a
healthy growth industry in the future and that conviction guides our strategic
vision as we create an even stronger company. Now let me ask Tony to review the
safe harbor statement and then Greg and I will provide a market and business
report before Tony covers the financials. </P>

<H3 ALIGN=LEFT>TONY</H3>

<H3 ALIGN=LEFT>FORWARD LOOKING LANGUAGE</H3>

<P>We would like to advise you
that our report and the discussions we will have today will include
&#147;forward looking statements,&#148; as that term is defined under the
Private Securities Litigation Reform Act of 1995. Forward looking statements are
all statements we make, other than those dealing specifically with historical
matters (that is our historical financial results and any statements we make
about the conduct of our business, operations and finances up to this moment).
Our forward looking statements include any information we provide on future
business operations and guidance regarding the future financial performance of
the Company and any information regarding the likelihood, timing, cost and any
benefits of the business restructuring activities we discuss today. All forward
looking statements mentioned are subject to risks and uncertainties that could
cause the actual results to differ, possibly materially, from those projected in
the forward looking statements. Some, but not all, of these risks and
uncertainties are discussed from time to time in the press releases and
securities filings of the company with the SEC, particularly the &#147;Risk
Factor&#148; section of our Form 10-Q filed for the quarter ended March 31,
2001. </P>

<P>We  undertake no  obligation  to publicly  update or revise any  forward-looking
statements, whether as a result of new information, future events or otherwise.</P>



<H3 ALIGN=LEFT>JOZEF</H3>

<H3 ALIGN=LEFT>MARKET OVERVIEW</H3>

<P>Thank you Tony.</P>

<P>It certainly has been an
exciting and challenging twelve months. Our revenue for the fiscal year ended
June 30<SUP>th</SUP> was $3.2 billion, 83% above pro forma revenue of $1.8
billion in fiscal 2000. Yet fourth quarter revenue was $601 million, down 35%
sequentially. This indicates just how strong our markets were only a few months
ago. The ensuing downturn struck very quickly and our reaction was immediate and
decisive. The Global Realignment Program is necessary to restructure our Company
and integrate our operations more efficiently without sacrificing customer
service and research and development activities. The scope of this program has
been expanded given the severity of the downturn but I think it is important to
note that the most important aspect of this program is the strength of the core
company that is being recreated. </P>

<P>Our goal is to emerge from this industry downturn as the industry leader:</P>
<ul>
<LI> in technology</LI>

<LI> in products</LI>

<LI> in cost structure</LI>

<LI> in financial strength</LI>
</UL>

<P>Given our research and
development capabilities, our customer relationships and our sound financial
position, we believe that we are in a position to achieve this goal with the
strong management team we have in place. </P>

<P>Before Greg and Tony give
you the detailed operational and financial overview, I would like to talk about
the market environment, offer a broad review of the Global Realignment program,
and provide a product and technology update that encompasses the customer
activity we are pursuing to remain a leader in our industry. </P>

<P>Turning to the market, let
me comment on some of the topics that are on everyone&#146;s minds. </P>

<P>First, the much discussed
topic of carrier-level capital expenditures. As you have heard, carriers have
adjusted their spending levels for a number of reasons, including: excess
capacity in the market, constrained capital markets, decreasing competition, the
rationalization of the industry structure and their need to show a return on
investment. The immediate impact has been a slowing of equipment purchases as
the carriers improve their utilization of existing capacity. Clearly we are
seeing the effect of this in our order flow and we have yet to see positive
signs of this trend reversing. </P>

<P>In addition to reduced
carrier-level capital expenditure, inventory levels remain high at our
customers. Both of these factors impact the level of our customers&#146;
purchases from us. It is hard to predict when the inventory situation will
correct itself but we believe that our strong design win activity will
contribute to future sales growth as the technology moves forward even in this
environment.</P>

<P>Geographically,  European markets have followed the North American trends and we
have seen our European customers slow purchases as well.</P>

<P>Metro and switching
continue to be the bright spots in the market, and while they are growing from a
small base, we believe we are well positioned with strong product presence in
both markets. In fact, we have dedicated 25% of our R&amp;D dollars to the metro
market.</P>

<P>Finally, we get a lot of
questions about the pricing environment. While our customers are always asking
for lower prices and the competition is fierce, we do see increased emphasis
being placed on providing higher value for the same dollar. Our philosophy
always has been to maintain a low cost structure so that we can continue to meet
our customers&#146; pricing needs and build our position in their
next-generation systems at the same time. For customers, pricing is only one
aspect of component supply. Ideally, customers want to limit their number of
vendors to consolidate qualification efforts and they want assurance that their
suppliers are going to be around in the years to come. By offering contracts
covering a portfolio of products and superior price performance, we believe that
JDS Uniphase has an enviable position in the component industry.</P>

<P>Our response to this market
environment is our Global Realignment Program. In the execution of this program
we are taking measures to build for the future. Last quarter we outlined for you
the scope of the program, however the severity of the downturn has forced us to
expand its scope. We believe that the additional steps that we have announced
today will generate now an aggregate of $700 million in annual cost savings, a
research and development budget greater than 12% of sales and reductions in our
employee base from approximately 29,000 at the beginning of the calendar year to
20,000 currently and then to 13,000 employees. We will also decrease our square
footage by almost two million square feet, from 6.3 million to 4.4 million
square feet. Combine that with $1.6 billion in cash, money market instruments
and other highly liquid fixed income securities and essentially no debt and we
feel that we have a strong financial position. While this realignment has been
very difficult for everyone at JDS Uniphase, we are energized by the strength of
the company that we believe will emerge from this downturn. </P>

<P>Now let me turn to how we
are capturing opportunities through customer activities and new products to
position ourselves for the upturn in the market. </P>

<P>First, we are engaging with
customers at every level of the organization. We have a global direct sales
force that provides very individualized attention for all of our customers. In
the near term, we are working with them to meet their current needs while
continuing to define requirements for their next generation systems. Our product
development activities continue to move ahead based on the positive reception
our newly introduced products have been receiving. Let me quickly remind you of
some of the products we&#146;ve introduced in the last six months: </P>

<P>Industry's highest powered uncooled 980 nm pump laser and uncooled microamplifier</P>

<P>Industry's highest power Raman pumps</P>

<P>New OC-48 and OC-192  transponders  to create the  industry's  most  complete
family of transponder products</P>

<P>And a family of  products  for 40 Gb/s  systems  including  40 Gb/s  modulators,
dynamic gain equalizers, and tunable dispersion compensator</P>

<P>We believe that new
products will propel us out of this downturn and our design win activity
continues to be strong; in fact it is not experiencing any slowing in this
environment. </P>

<P>I would also like to
comment briefly on our new management team. In addition to Greg, I work very
closely with Don Scifres, Scott Parker, Tony Muller, Yves Dzialowski, Mike
Phillips, and Fred Leonberger. This talented group of individuals has melded
into an executive team that is decisive and results-oriented, helping JDS
Uniphase to become a better partner for its customers and a stronger corporate
entity. This team has made many difficult choices as we realign our business to
be profitable at a lower revenue level without sacrificing customer service and
future growth, and I am proud to work with them. </P>

<P>Personally I remain
positive about the future. Our market will eventually recover and grow again, as
the demand for bandwidth continues to grow. In the near term, this environment
is opportunistic and it is giving JDS Uniphase a chance to prove that it will be
a strong leader in optical components for years to come. Our customers need a
worldwide partner that can offer a broad range of components and subsystems,
collaborate on research and development, ensure manufacturing volumes, and
provide long-term staying power and financial strength. We believe that JDSU is
just such a partner and we expect to turn adversity into opportunity to come out
of this downturn with key positions in the next-generation systems that will be
introduced over the next twelve to eighteen months. </P>

<P>Greg....</P>



<H3 ALIGN=LEFT>GREG</H3>

<P>Thank you Jozef.</P>

<P>Through our Global
Realignment Program we have greatly accelerated our integration efforts at JDS
Uniphase while restructuring the company to be aligned with the current market
environment. </P>

<P>We have four guiding principles behind our restructuring:</P>
<UL>
<LI> To insure that our employees are treated with dignity and respect;</LI>

<LI>To better integrate JDS Uniphase so that we are able to present a single  company which offers value added solutions
to our customers;</LI>

<LI> To align our cost structure with market realities;</LI>

<LI> To insure that JDS
Uniphase remains positioned as the industry leader when we exit this industry
downturn in terms of: </LI>

<LI> Technology</LI>

<LI>Product line</LI>

<LI>Cost structure</LI>

<LI>Financial position</LI>
</UL>

<P>We are convinced that JDS
Uniphase has the people, technology and the financial resources to make this
happen. </P>

<P>I'd like to provide  you with  additional  details on the Global  Realignment
Program, as well as an update of what we have accomplished to date.</P>

<P>First, we are reorganizing
how we manage the company to be more market driven and to leverage synergies.
Modules and subsystems have become our customers&#146; top priority and we are
adjusting our management structure to further prioritize these areas, as well as
increase our focus on the high growth areas of metro and switching. We believe
that by aligning our product development activities and the efforts of our
considerable sales force, we can present a clearer, more integrated company to
our customers and provide even more solutions to them in the future. </P>

<P>Turning to research and
development, we are increasingly taking a corporate wide, strategic view of
research and development priorities as we allocate dollars and engineering
talent to projects. As we evaluate these projects, we will be leveraging the
breadth and strength of our technology bases to provide more integrated
solutions for our customers. A resulting corollary is that we must decide on
what not to do, and lower priority, overlapping projects are being cancelled.
Our projected R&amp;D budget will remain greater than 12% of sales, which is
greater than the revenue of many of our competitors. </P>

<P>In manufacturing, we are
consolidating our sites into global centers of excellence. Clearly this will
improve our capacity utilization but it has additional benefits. Consolidation
will also facilitate our ability to standardize our business processes and
simplify our supply chain management and qualification procedures. These steps
will considerably improve the cost structure of our manufacturing. Importantly,
we are building on our strength in China and accelerating the transfer of
manufacturing to our Shenzhen facility. Additionally we continue to move forward
with our automation initiatives by prioritizing projects based on the strategic
decisions being made in relation to research and development. We also continue
to utilize manufacturing partners where it makes sense. </P>

<P>By leveraging our extensive
Oracle ERP system, we are implementing a shared service initiative to better
serve our customers and to reduce costs. We will create a centralized customer
service organization to allow our customers to place a single purchase order
with a single person for any JDS Uniphase product manufactured anywhere in the
world. We will also be centralizing our general accounting functions. In
addition, we will use our Oracle tools as a means to leverage our purchasing
clout by negotiating more blanket purchase agreements with our key suppliers. </P>

<P>Finally, we have
established an operations strategy group that now consolidates supply chain
management, automation, quality and facilities into one corporate team led by
one of our most capable and experienced operations executives. We expect unified
leadership and common business processes implemented across the Company will
allow us to realize gains in effectiveness and efficiency while completing our
transformation into the one-company that relentlessly focuses on continuous
improvement in quality, efficiencies and customer satisfaction. </P>

<P>Now let me update you on
what we have already accomplished with the Global Realignment Program. The
program is being executed in multiple phases, both because some of our earlier
decisions were more obvious and because our anticipated sales levels were higher
than we can now forecast. This first phase, now complete, will result in almost
$300 million in annual savings. This process reduced our employee count by
approximately 9,000 people and we have identified and are in the process of
closing 9 operations and 25 buildings, or approximately 1.2 million square feet.
The operations being closed are in the following locations: Asheville, North
Carolina; Bracknell, England; Freehold, New Jersey; Hillend, Scotland; Oxford,
England; Richardson, Texas; Rochester, New York; Shunde, China and Taipei,
Taiwan. We exceeded the original targets of the program that we previously
announced because of the leadership and teamwork of managers throughout JDS
Uniphase. </P>

<P>With the change in the
level of our business and the insights and opportunities we found throughout the
Company we have expanded the scope of the Global Realignment Program. We now
expect to generate an additional $400 million in annual savings. This second
phase of the Global Realignment Program, which is partially completed, will
result in a further reduction of approximately 7,000 employees and 800,000
square feet of facilities. </P>

<P>JDS Uniphase assembled an
incredible technology base and grew rapidly by expanding capacity as customer
demand grew explosively. We are now building what we believe will be an even
stronger company. I continue to be impressed and energized by the talent,
energy, enthusiasm and professionalism of the JDS Uniphase team, and its
unceasing dedication to customers. We are all saddened by having to ask so many
people to leave our company during these difficult times and we are doing the
most we can to treat all of them in the best way possible. The people of JDS
Uniphase represent one of the strongest forces in the optical component and
subsystem industry. These painful and difficult, but necessary, steps will
insure that JDS Uniphase remains a market leader. </P>

<P>Jozef.</P>


<H3 ALIGN=LEFT>JOZEF</H3>

<P>Thank you Greg.  Now Tony will take you  through  the fourth  quarter and fiscal
year and our guidance for future periods.</P>



<H3 ALIGN=LEFT>TONY</H3>

<H3 ALIGN=LEFT>NUMBERS FOR THE QUARTER</H3>

<P>Our fourth quarter results
were consistent with our guidance as we reported sales of $601 million for the
quarter and we reported $3.2 billion in sales for the fiscal year ended June 30,
2001. </P>

<P>The $601 million in sales
for the quarter was down 35% sequentially from the third quarter and down 6%
from pro forma combined sales of $641 million in the fourth quarter of fiscal
2000 (pro forma including the separately reported results of E-TEK). </P>

<P>The $3.2 billion compares
to the $1.8 billion in pro forma sales last year. It was a year of growth,
although in recent quarters our sales have declined because of the severe
downturn in our industry. </P>

<P>Alcatel was our only 10% customer for the  quarter.  Customers  over 10% for the
year were Alcatel at 12.3%, Lucent at 10.0% and Nortel at 14.1%.</P>

<P>Our book to bill ratio was well below unity for the fourth quarter.</P>

<P>Let me report on our two
segments: amplification and transmission and WDM, switching and thin film.
Please note that our organization structure is being changed as we complete our
Global Realignment Program and this will in all likelihood change to conform to
SEC rules. </P>

<P>Amplification and
transmission (A&amp;T) represented 42% of total sales and decreased 41% from the
third quarter </P>

<P>WDM, switching and thin
film products represented 58% of total sales and declined 28% from the second
quarter. (Please note that this segment includes our non-telecommunications
businesses) </P>

<H3 ALIGN=LEFT>Global Realignment Program</H3>

<P>We have been vigorously implementing our Global Realignment Program and can give
you a clear picture of the extent of changes we are making.</P>

<P>The total cost of this
program is now estimated to be $900-950 million of which $500 million was
incurred through the end of the fourth quarter and the majority of the remaining
amounts are expected to be charged in the first quarter of fiscal 2002. The
charges recorded in the fourth quarter include $264 million in restructuring
charges, $220 million in charges to cost of goods sold, and $16 million in
charges to operating expenses. Included in the total costs of the Global
Realignment Program are charges for obsolete inventory write-downs and
accelerated depreciation, moving and employee costs related to the phasing out
of certain facilities and equipment.</P>

<P>The program is expected to
reduce annual expenses by $700 million from the levels experienced at the
commencement of the Global Realignment Program through reductions in
manufacturing capacity, employment reductions, product rationalization, and
decreased discretionary spending. We are in the process of vacating
approximately two million square feet of space, or about 30% of total space
before the downturn. We anticipate a total global employment reduction of
16,000, of which approximately 9,000 was completed by June 30. Most of the
remaining reductions are expected to take place in the first half of fiscal
2002. </P>

<P>In addition to charges
associated with the Global Realignment Program, we incurred charges of
approximately $270 million for the write-down of excess inventory in the fourth
quarter related to its lowered sales forecasts. All of the foregoing amounts are
greater than estimates previously announced because of further reductions in
sales forecasts. </P>

<P>Each of the above numbers
is higher than our previously announced expectations. We have found additional
opportunities to make JDS Uniphase more efficient and we have expanded the
program in response to lowered sales forecasts. Will this be the end, in
particular the end of our layoffs? We have endeavored to act decisively
throughout the program, and to restructure our operations to maintain
profitability at low sales levels to avoid having to do another round of cuts.
We cannot be sure, of course, but we hope this is as far as we will have to go
so that all of our people can devote their full efforts to building for the
future.</P>

<P>Finally, it is important to
know that the full impact of our Global Realignment Program will phase into our
income statement over the next three quarters. The goal of the program is to
create a cost structure that results in breakeven financial performance at $350
million in quarterly sales. </P>

<H3 ALIGN=LEFT>Gross margin</H3>

<P>We incurred $220 million in
charges against cost of goods sold under our Global Realignment Program and
approximately $270 million in write-downs of excess inventory in the fourth
quarter. Absent these charges, our fourth quarter pro forma gross margin would
have been consistent with our guidance despite lower sales because of the speed
and effectiveness of our cost cutting. </P>

<H3 ALIGN=LEFT>R&amp; D (pro forma)</H3>

<P>Excluding a small amount of
charges under the Global Realignment Program, R&amp;D expense was just under $85
million or 14.1% of sales for the quarter, a reflection of the sharply lower
sales level.</P>

<H3 ALIGN=LEFT>SG&amp;A (pro forma)</H3>

<P>SG&amp;A expenses,
excluding Global Realignment Program charges were $135 million or 22.4% of sales
for the quarter, again a reflection of lower sales.</P>

<P>Interest and other income was $11 million for the quarter.</P>

<P>For the fourth quarter
shares were 1.32 billion on a primary basis and diluted shares were 1.34
billion. </P>

<H3 ALIGN=LEFT>Balance Sheet</H3>

<P>I am pleased to report that
our considerable financial strength improved even further in the fourth quarter.</P>

<P>We generated $65 million in cash
from operations during the quarter and $354 million for the fiscal year.</P>

<P>Capital spending for the
fourth quarter was $155 million as we completed several projects already
underway. We invested $716 million in capital projects for the full year. </P>

<P>The Global  Realignment  Program consumed  approximately  $31 million in cash
during the fourth quarter and this amount was included in cash generated  during
the quarter.</P>

<P>DSAR were 72 days for the
quarter because of our lower sales level and slower payments by some large
customers. </P>

<P>Inventory turns for the
quarter are not meaningful because of the large inventory provisions taken. </P>

<P>During the quarter, we sold
a considerable portion of the Nortel stock we received in the sale of our Zurich
operations. </P>

<P>The result of the above is
that we held $1.8 billion in cash and marketable securities at June 30 of which
$1.6 billion was held as cash, money market and other highly liquid fixed income
securities. This gives us the financial strength to invest in our business,
weather the industry downturn and continue the make acquisitions to expand our
technology base. Our debt was minimal. </P>

<H3 ALIGN=LEFT>Goodwill
discussion</H3>

<P>As we announced in April
and reported in our 10-Q, the Company has evaluated the carrying value of
certain long-lived assets and acquired equity investments, consisting primarily
of goodwill and the our investment in ADVA. Pursuant to accounting rules, the
majority of the goodwill was recorded based on stock prices at the time merger
agreements were executed and announced. The Company&#146;s policy is to assess
enterprise level goodwill if the market capitalization of the Company is less
than its net assets with goodwill being reduced to the extent net assets are
greater than market capitalization. </P>

<P>Downturns in
telecommunications equipment and financial markets have created unique
circumstances with regard to the assessment of long-lived assets, and we sought
the counsel of the Staff of the Securities and Exchange Commission on the
interpretation of generally accepted accounting principles with regard to this
matter. We have had communications with the Staff of the SEC, and we will amend
our Quarterly Report on Form 10-Q for the quarter ended March 31, 2001 to reduce
the carrying value of goodwill by $38.7 billion for that quarter. In addition,
we recorded a $6.1 billion reduction for goodwill in the quarter ended June 30
following further declines in our market capitalization. Finally, approximately
$300 million in certain amounts paid to SDL executives in connection with the
acquisition which were previously recorded as acquisition costs in the quarter
ended March 31, 2001 have been reclassified as a one-time charge for that period
and we also recorded a $715 million charge for that period to write down the
value of our equity investment in ADVA . Because of the significant industry
downturn we are in the process of performing a review of our long-lived assets
in accordance with GAAP, and this may result in further charges being recorded
for the fourth quarter of fiscal 2001 based on the value of such assets. </P>

<P>The largest portion of the
Company&#146;s goodwill arose from the merger of JDS FITEL and Uniphase and the
subsequent acquisition of SDL, E-TEK, and OCLI. The businesses associated with
these business combinations remain significant operations within JDS Uniphase
notwithstanding the current business downturn and change in market valuations. </P>

<P>This significant reduction
in our goodwill and other assets no doubt will result in press reports or
articles about a sizeable loss, so let me explain what it really means. This
goodwill resulted from our acquiring good companies when valuations were high.
But keep in mind that while we purchased highly valued shares, we were also in
effect selling highly valued shares at the same time as none of the transactions
resulting in large goodwill amounts were done for cash. Had these transactions
been done at different times when valuations were lower with exactly the same
share exchange ratios, the goodwill amounts would have been considerably
smaller. Of course, these good companies likely would have become parts of other
companies and we would not have had the opportunity to acquire them. So by
avoiding goodwill we would have foregone many opportunities to strengthen JDS
Uniphase. And when you assess these charges, please keep in mind that they were
recorded at a time when our cash increased sharply, so these charges in no way
impaired our financial health or strength. </P>

<P>We are reporting a pro
forma loss of $477 million or $0.36 per share for the fourth quarter and net
income of $67 million or $0.06 per share for the year ended June 30, 2001. These
results reflect the costs of the Global Realignment Program and charges for the
write-down of excess inventory and exclude the costs we have historically
excluded, primarily those related to merger and acquisition charges. </P>

<H3 ALIGN=LEFT>GUIDANCE</H3>

<P>On June 14, we projected
that revenue for the first quarter of fiscal 2002 (September) would be $450
million. We provide guidance based on our forecasts. These forecasts have been
declining during the severe industry downturn and guidance was revised
accordingly. We do not yet see any positive signs of a reversal in the downward
trend in the industry and now expect first quarter revenue to be below such
earlier guidance and we are not currently providing guidance for the first
quarter or for future periods. </P>

<P>Jozef....</P>


<H3 ALIGN=LEFT>JOZEF</H3>

<P>Thank you Tony. In closing,
let me say that I have been deeply involved in the technological progress of
fiber optics for over twenty years and the pace of change has never slowed
despite the ups and downs of the economy and financial markets. The innovations
we are working on today will come to market and financial growth will return to
the industry. I firmly believe that the future vitality of our industry hinges
on customer design activity. </P>

<P>In the near term, we
believe the aggressive implementation of our Global Realignment Program has
positioned us to remain the price performance leader in the component industry
and our ability to partner with customers is resulting in numerous design wins.
Our customers want product breadth, development collaboration and a supplier
that will be there to deliver product in the years to come as this market
reverses course. We believe that the next-generation of optical systems will
have more JDS Uniphase content than the last phase. </P>

<P>This is a very bittersweet
time because while we are remaking JDS Uniphase to be stronger than ever, we are
very sad that we cannot continue to employ everyone that has become a part of
the JDS Uniphase family during our growth phase. I would like to thank all of
our employees for their continued hard work during this difficult time. Your
efforts are appreciated now more than ever. </P>

<P>We can now open the call to questions.</P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>form8kex99b_072601.htm
<DESCRIPTION>PRESS RELEASE DATED 07/26/01
<TEXT>

<HTML>
<head>
<TITLE>Exhibit 99.2</TITLE>
</head>
<body>


<p align=left><b>PRESS RELEASE</b></p>              <p align=right><b>Exhibit 99.2</b></p>



<p ALIGN=CENTER><b><U>JDS UNIPHASE ANNOUNCES FOURTH QUARTER RESULTS</U></b></P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Ottawa,
Ontario, and San Jose, California, July 26, 2001 </B>&#150; JDS Uniphase
Corporation (Nasdaq: JDSU and TSE: JDU) today reported sales of $3.2 billion for
its fiscal year ended June 30, 2001 and sales of $601 million for its fourth
quarter. </P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales
for the fourth quarter ended June 30, 2001 were 35% below sales of $920 million
for the quarter ended March 31, 2001 and 6% lower than pro forma combined sales
of $641 million for the quarter ended June 30, 2000. Sales for the fiscal year
ended June 30, 2001 of $3.2 billion were 83% above pro forma combined sales of
$1.8 billion for the prior fiscal year. Pro forma combined sales for the prior
fiscal year periods include the separately reported results of E-TEK Dynamics,
Inc., which was acquired on June 30, 2000 in a transaction accounted for as a
purchase, but exclude sales of SDL, Inc. which was acquired on February 13, 2001
in a transaction accounted for as a purchase.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Fiscal
year 2001 began as a period of rapid expansion for JDS Uniphase but concluded
with a severe industry downturn. Our response to this downturn in the market was
immediate and determined. Through our Global Realignment Program, we are taking
decisive steps to modify our cost structure and reduce our expenditures to
respond to the current industry environment while strengthening our financial
position,&#148; said Jozef Straus, Co-Chairman, President and CEO. &#147;We
continue to work aggressively to support our customers&#146; current product
needs and will continue to dedicate engineering talent and capital to research
and development activities for their future product needs. While this downturn
is very difficult, we believe that our focus on customer engagement, new
products, a lower cost structure and greater financial strength will allow JDS
Uniphase to emerge even stronger when industry growth resumes.&#148;</P>

<P ALIGN=LEFT><B>Global Realignment Program</B></P>

<P>JDS Uniphase has been implementing a Global Realignment Program in response to the severe industry
downturn. This program reflects the Company&#146;s commitment to remaining the
industry leader in optical components and modules for telecommunications during
the current business downturn and to position the Company for long term growth. </P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>o</TD>
<TD WIDTH=95%>
The total cost of this program is now estimated to be $900-950  million of which
$500 million was incurred through the end of the fourth quarter and the majority
of the  remaining  amounts is  expected  to be  charged in the first  quarter of
fiscal 2002. The charges recorded in the fourth quarter included $264 million in
restructuring  charges,  $220 million in charges to cost of goods sold,  and $16
million in charges to  operating  expenses.  Included  in the total costs of the
Global Realignment  Program are charges for obsolete  inventory  write-downs and
accelerated  depreciation,  moving and employee costs related to the phasing out
of certain facilities and equipment.</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>o</TD>
<TD WIDTH=95%>
The program is expected to reduce annual expenses by $700 million from the
levels experienced at the commencement of the Global Realignment Program through
reductions in manufacturing capacity, employment reductions, product
rationalization, and decreased discretionary spending. The Company is in the
process of vacating approximately two million square feet of space, or about 30%
of the Company&#146;s total space before the downturn. The Company expects a
global employment reduction of 16,000, of which approximately 9,000 was
completed by June 30. Most of the remaining reductions are expected to take
place in the first quarter.</TD>
</TR>
</TABLE>
<BR>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to charges associated with the Global Realignment Program, the Company
incurred charges of approximately $270 million for the write-down of excess
inventory in the fourth quarter related to its lowered sales forecasts. All of
the foregoing amounts are greater than estimates previously announced because of
further reductions in sales forecasts. </P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
full impact of the Global Realignment Program will phase into the Company&#146;s
income statement over the first three quarters of fiscal 2002. The goal of the
program is to create a cost structure that results in breakeven financial
performance at $350 million in quarterly sales. </P>

<P><B>Financial Results</B></P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
announced in April, the Company has evaluated the carrying value of certain
long-lived assets and acquired equity investments, consisting primarily of
goodwill and the Company&#146;s investment in ADVA. Pursuant to Generally
Accepted Accounting Principles (GAAP), the majority of the goodwill was recorded
based on stock prices at the time merger agreements were executed and announced.
The Company&#146;s policy is to assess enterprise level goodwill if the market
capitalization of the Company is less than its net assets with goodwill being
reduced to the extent net assets are greater than market capitalization. </P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Downturns
in telecommunications equipment and financial markets have created unique
circumstances with regard to the assessment of long-lived assets, and the
Company sought the counsel of the Staff of the Securities and Exchange
Commission on the interpretation of GAAP with regard to this matter. The Company
has had communications with the Staff of the SEC, and will amend its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2001 to reduce the carrying
value of goodwill by $38.7 billion for that quarter. In addition, the Company
has recorded a $6.1 billion reduction of goodwill for the quarter ended June 30,
2001 following further declines in its market capitalization. Finally,
approximately $300 million in certain amounts paid to SDL executives in
connection with the acquisition which were previously recorded as acquisition
costs in the quarter ended March 31, 2001 have been reclassified as a one-time
charge for that period and the Company also recorded a $715 million charge for that
period to write down the value of its equity investment in ADVA. Because of the
significant industry downturn the Company is in the process of performing a
review of its long-lived assets in accordance with GAAP, and this review may
result in further charges being recorded for the fourth quarter of fiscal 2001
based on the value of such assets. </P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
largest portion of the Company&#146;s goodwill arose from the merger of JDS
FITEL and Uniphase and the subsequent acquisition of SDL, E-TEK, and OCLI. The
businesses associated with these business combinations remain significant
operations within JDS Uniphase notwithstanding the current business downturn and
change in market valuations.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Including
reduction of goodwill and purchased intangibles, merger-related charges,
realized and unrealized losses on equity investments, gain on the sale of a
subsidiary, purchased intangibles amortization, payroll taxes on stock option
exercises, stock compensation charges, and activity related to equity method
investments, the Company reported a loss of $7.9 billion or $5.99 per share for
the quarter and $50.6 billion or $46.30 per share for the fiscal year ended June
30, 2001. </P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
a pro forma basis, excluding reduction of goodwill and purchased intangibles,
merger-related charges, realized and unrealized losses on equity investments,
gain on the sale of a subsidiary, purchased intangibles amortization, payroll
taxes on stock option exercises, stock compensation charges, and activity
related to equity method investments, the Company reported a loss of $477
million or $0.36 per share for the fourth quarter and net income of $67 million
or $0.06 per share for the year ended June 30, 2001. These results reflect the
costs of the Global Realignment Program and charges for the write-down of excess
inventory. The impact of pro forma adjustments listed above are summarized in
the Company&#146;s pro forma financial tables that follow in this release. </P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company&#146;s financial condition remained strong with $1.6 billion in cash,
money market and other highly liquid fixed income securities at June 30, 2001.
The Company reported $65 million in cash flow from operations for the quarter
and $354 million for the fiscal year and increased its cash balances through the
sale of equity securities previously held as investments. </P>

<P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guidance</B></P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June 14, 2001, the Company projected revenue for the first quarter of fiscal
2002 would be $450 million. The Company provides guidance based on its sales
forecasts. These forecasts have been declining during the severe industry
downturn and guidance was revised accordingly. The Company does not yet see any
positive signs of a reversal in the downward trend in the industry and now
expects first quarter revenue to be below such earlier guidance and is not
currently providing guidance for the first quarter or for future periods. </P>

<P>The following table summarizes JDS Uniphase pro forma results for the quarter:</P>

<P>(in millions, except per share amounts)</P>
<pre>
                                                        Three months ended June 30,
                                                -----------------------------------------
                                                      2001                   2000
                                                ------------------     ------------------
Net sales                                             $   601              $   641
Gross profit                                          $ (234)              $   324
Income (loss) from operations                         $ (734)              $   200
Income (loss) before income taxes                     $ (723)              $   210
Net income (loss)                                     $ (477)              $   137
Net income (loss) per diluted share                   $(0.36)              $  0.14
Diluted weighted average shares outstanding           1,316.4              1,002.7
____________________</PRE>
<P>Pro forma results for the quarter ended June 30, 2001 exclude the $6,087.7
million reduction of goodwill and purchased intangibles, $11.4 million effect
on gross profit related to purchase accounting adjustments of the value of
inventory; $1,143.3 million of purchased intangibles amortization and in-process
R&amp;D (IPR&amp;D) charges; $12.5 million refund of payroll taxes on stock
option exercises; $562.0 million of realized and unrealized losses on equity
investments; $30.4 million of non-cash stock compensation; and $30.6 million in
activity related to investments accounted for under the equity method of
accounting. Pro forma results for the quarter ended June 30, 2001 reflect costs
of the Global Realignment Program and charges for the write-down of excess
inventory. June 30, 2000 pro forma results include the separately reported
results of E-TEK Dynamics Inc., which was acquired on June 30, 2000 in a
transaction accounted for as a purchase.  Pro forma results for the quarter
ended June 30, 2000 exclude the $23.9 million effect on gross profit related to
purchase accounting adjustments to the value of inventory, $546.2 million of
purchased intangibles amortization and IPR&amp;D charges, and $4.6 million of
payroll taxes on stock option exercises.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company
management will be discussing these results at 4:30 PM Eastern Time on July 26,
2001, and the session will be webcast, and archived for replay, on the JDS
Uniphase website at <U>www.jdsuniphase.com</U> under Corporate Information /
Investor Relations / Webcasts &amp; Presentations.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JDS
Uniphase is a high technology company that designs, develops, manufactures and
distributes a comprehensive range of products for the growing fiberoptic
communications market. These products are deployed by system manufacturers
worldwide to develop advanced optical networks for the telecommunications and
cable television industries. JDS Uniphase Corporation is traded on the Nasdaq
National Market under the symbol JDSU and the exchangeable shares of JDS
Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol
JDU. More information on JDS Uniphase is available at
<U>www.jdsuniphase.com</U>.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
press release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. These statements include (a) any statements or implications regarding
the Company&#146;s ability to remain competitive and the leader in its industry,
and the future prospects and growth of the Company, the industry and the economy
in general; (b) statements regarding the current industry downturn, the extent
and duration thereof and the Company&#146;s response thereto; (c) statements
regarding the expected level and timing of benefits to the Company from its
Global Realignment Program and the expected cost thereof, including (i) the
extent and timing of expected cost reductions and their impact on the
Company&#146;s financial performance, and (ii) expected reductions in
manufacturing capacity and employees; (d) statements regarding our ability to
engage customers, create a lower cost structure and improve our financial
strength, (e) statements regarding possible additional charges to be recorded by
the Company to reduce the carrying value of unamortized goodwill and other
long-lived assets; (f) any statement or implication regarding our products, the
demand therefor and any benefits expected therefrom; and (g) any implication or
suggestion that the statement regarding breakeven financial performance at $350
million in quarterly sales represents or constitutes a revenue projection or
guidance for any current or future period. These forward-looking statements
involve risks and uncertainties that could cause actual results to differ
materially from those projected, including, without limitation, the
following: (1) the Company&#146;s ongoing integration and restructuring
efforts, including, among other things, the Global Realignment Program, may not
be successful in achieving their expected benefits, may be insufficient to align
the Company&#146;s operations with customer demand and the changes affecting our
industry, or may be more costly or extensive than currently anticipated; (2) due
to the current economic slowdown, in general, and setbacks in our
customers&#146; businesses, in particular, our ability to predict the
Company&#146;s financial performance for future periods is far more difficult
than in previous periods; and (3) our ongoing efforts to reduce product costs to
our customers, through, among other things, automation, improved manufacturing
processes and product rationalization may be unsuccessful.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
more information on these and other risks affecting our business, please refer
to the &#147;Risk Factors&#148; Section included in the Company&#146;s Quarterly
Report on Form 10-Q for the quarter ended March 31, 2001. The forward-looking
statements contained in this news release are made as of the date hereof and we
do not assume any obligation to update the reasons why actual results could
differ materially from those projected in the forward-looking statements. </P>

<P ALIGN=CENTER>                      # # #</P>


<P ALIGN=CENTER><B>-SELECTED FINANCIAL DATA FOLLOWS-</B></P>

<DIV align=left>
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</DIV>


<P ALIGN=CENTER><B>                              JDS UNIPHASE CORPORATION<BR>
                                     CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS<BR></B>
                                          (in millions, except per share data)<BR>
                                                      (unaudited)</P>

<PRE>
                                                            Three months ended                Twelve months ended
                                                        June 30,         June 30,         June 30,          June 30,
                                                          2001             2000             2001              2000
                                                      -------------   ---------------  ----------------  ----------------

Net sales                                                  $ 601.1          $  524.0         $ 3,232.8         $ 1,430.4
Cost of sales                                                857.4             285.2           2,238.0             751.6
                                                      -------------   ---------------  ----------------  ----------------
Gross profit                                                (256.3)            238.8             994.8             678.8

Operating expenses:
  Research and development                                    94.4              41.2             325.9             113.4
  Selling, general and administrative                        148.1              62.1             810.3             172.9
  Amortization of purchased intangibles                    1,142.7             289.3           5,474.5             896.9
  Acquired in-process R &amp; D                                    0.6             256.9             393.2             360.7
  Reduction of goodwill/intangibles                        6,087.7                 -          44,774.3                 -
  Restructuring charges                                      264.3                 -             264.3                 -
                                                      -------------   ---------------  ----------------  ----------------
Total operating expenses                                  7,737.8             649.5          52,042.5           1,543.9

Loss from operations                                      (7,994.1)           (410.7)        (51,047.7)           (865.1)
Gain on sale of subsidiary                                       -                 -           1,770.2                 -
Activity related to equity method investments                (30.6)                -            (883.9)                -
Interest and other income (expense), net                    (551.2)              9.1            (520.8)             35.3
                                                      -------------   ---------------  ----------------  ----------------
Loss before income taxes                                  (8,575.9)           (401.6)        (50,682.2)           (829.8)
Income tax expense                                          (686.6)             17.2            (124.2)             74.9
                                                      -------------   ---------------  ----------------  ----------------
Net loss                                                $ (7,889.3)         $ (418.8)       $(50,558.0)         $ (904.7)
                                                      =============   ===============  ================  ================
Net loss per share                                      $    (5.99)         $  (0.54)       $   (46.30)         $  (1.27)
                                                      =============   ===============  ================  ================

Number of weighted average shares outstanding              1,316.4             782.0           1,091.9             710.9

</PRE>

<DIV align=left>
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</DIV>



<P ALIGN=CENTER><B>
                                             JDS UNIPHASE CORPORATION<BR>
                                      CONDENSED CONSOLIDATED BALANCE SHEETS<BR></B>
                                                  (in millions)<BR>
                                                   (unaudited)</P>
<PRE>
                                                                   June 30, 2001         June 30, 2000
                                                                 -------------------    -----------------

Current assets:
Cash, cash equivalents and short-term investments                   $   1,812.3           $  1,114.3
Accounts receivable, less allowances for doubtful accounts                477.6                381.6                                                                                                           477.6                381.6
Inventories                                                               356.3                375.4
Prepaid assets and other current assets                                   458.8                101.6
                                                                 -------------------    -----------------
Total current assets                                                    3,105.0              1,972.9

Property, plant, and equipment, net                                     1,183.3                670.7
Intangible assets                                                      12,258.4             22,337.8
Other assets                                                            1,025.5              1,407.7
                                                                 -------------------    -----------------
TOTAL ASSETS                                                         $ 17,572.2           $ 26,389.1
                                                                 ===================    =================
Current liabilities:
Accounts payable                                                     $   190.6            $   195.2
Accrued payroll and related expenses                                     133.0                 98.8
Income taxes payable                                                      30.6                108.6
Other accrued expenses                                                   423.5                244.6
Deferred income taxes                                                     63.0                    -
                                                                 -------------------    -----------------
Total current liabilities                                                840.7                647.2

Deferred tax liabilities                                                 707.4                902.1
Other non-current liabilities                                             18.0                 61.2

Stockholders' equity:
Common stock and additional paid-in capital                           68,001.2             25,898.3
Accumulated deficit and other stockholders' equity                   (51,995.1)            (1,119.7)
                                                                 -------------------    -----------------
Total stockholders' equity                                            16,006.1             24,778.6
                                                                 -------------------    -----------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                          $ 17,572.2           $ 26,389.1
                                                                 ===================    =================
</PRE>

<DIV align=left>
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</DIV>



<P ALIGN=CENTER><B>
                                                JDS UNIPHASE CORPORATION<BR>
                                             OPERATING SEGMENT INFORMATION<BR></B>
                                                     (in millions)<BR>
                                                      (unaudited)</P>
<PRE>
                                                             Three months ended               Twelve months ended
                                                          June 30,         June 30,         June 30,         June 30,
                                                            2001             2000             2001             2000
                                                       ---------------- ---------------  ---------------  ---------------

Amplification and Transmission:
Shipments                                                     $  259.1        $  211.5        $ 1,219.8         $  628.9
Intersegment sales                                                (4.3)           (3.3)           (27.2)            (4.8)
                                                       ---------------- ---------------  ---------------  ---------------
Net sales to external customers                                  254.8           208.2          1,192.6            624.1
Operating income                                                (128.1)           56.3            139.2            162.2

WDM, Switching and Thin Film Filters:
Shipments                                                        372.4           342.1          2,147.6            880.0
Intersegment sales                                               (23.3)          (26.5)          (100.2)           (73.7)
                                                       ---------------- ---------------  ---------------  ---------------
Net sales to external customers                                  349.1           315.6          2,047.4            806.3

Operating income                                                (407.5)          114.8            210.2            298.0

Net sales by reportable segments                                 603.9           523.8          3,240.0          1,430.3
All other net sales                                               (2.8)            0.2             (7.2)             0.1
                                                       ---------------- ---------------  ---------------  ---------------
                                                                 601.1           524.0          3,232.8          1,430.4
                                                       ---------------- ---------------  ---------------  ---------------

Operating income by reportable segment                          (535.6)          171.1            349.4            460.2
All other operating income                                      (198.2)           (7.0)          (295.7)            (0.5)

Unallocated amounts:
Acquisition related charges and payroll tax on stock
option exercises                                              (7,260.3)         (574.7)       (51,101.4)        (1,324.8)
Gain on sale of subsidiary and other related costs                    -               -         1,770.2                 -
Realized and unrealized losses on equity investments            (562.0)               -          (569.4)                -
Activity related to equity method investments                    (30.6)               -          (883.9)                -
Interest and other income, net                                    10.8             9.0             48.6             35.3
                                                       ---------------- ---------------  ---------------  ---------------

Loss before income taxes                                    $ (8,575.9)       $ (401.6)     $ (50,682.2)        $ (829.8)
                                                       ================ ===============  ===============  ===============
</PRE>

<DIV align=left>
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</DIV>


<P ALIGN=CENTER><B>
                                                    JDS UNIPHASE CORPORATION<BR>
                                               PRO FORMA STATEMENTS OF OPERATIONS<BR></B>
                                              (in millions, except per share data)<BR>
                                                           (unaudited)</P>
<PRE>
                                                                        Three months ended June 30, 2001
                                                                --------------------------------------------------
                                                                  As Reported     Pro Forma AdjustmenPro Forma*
                                                                ----------------  --------------------------------
Net sales                                                               $ 601.1              $ -          $ 601.1
Cost of sales                                                             857.4            (22.6)           834.8
                                                                ----------------  ---------------   --------------
Gross profit                                                             (256.3)            22.6           (233.7)
Operating expenses:
Research and development                                                   94.4             (6.4)            88.0
Selling, general and administrative                                       148.1             (0.3)           147.8
Purchased intangibles amortization and in-process R &amp; D                 1,143.3         (1,143.3)               -
Reduction of goodwill/intangibles                                       6,087.7         (6,102.7)               -
Restructuring charges                                                     264.3                -            264.3
                                                                ----------------  ---------------   --------------
Total operating expenses                                                7,757.8         (7,237.7)           500.1
Income (loss) from operations                                          (7,994.1)         7,260.3           (733.8)
Activity related to equity method investments                             (30.6)            30.6                -
Interest and other income (expense), net                                 (551.2)           562.0             10.8
                                                                ----------------  ---------------   --------------
Income (loss) before income taxes                                      (8,575.9)         7,852.9           (723.0)
Income tax expense                                                       (686.6)           440.8           (245.8)
                                                                ----------------  ---------------   --------------
Net income (loss)                                                    $ (7,889.3)       $ 7,412.1         $ (477.2)
                                                                ================  ===============   ==============
Net income (loss) per share                                          $    (5.99)                         $  (0.36)
                                                                ================                    ==============
Net income (loss) per share, diluted basis                           $    (5.99)                         $  (0.36)
                                                                ================                    ==============
Number of weighted average shares outstanding                           1,316.4                           1,316.4
Number of weighted average shares and equivalents                       1,316.4                           1,316.4

                                                                                Three months ended June 30, 2000
                                                                ------------------------------------------------------------------
                                                                 JDS Uniphase         E-TEK         Pro Forma AdjustmePro Forma*
                                                                ----------------  ---------------   ------------------------------
Net sales                                                               $ 524.0          $ 122.8           $ (5.7)        $ 641.1
Cost of sales                                                             285.1             61.8            (30.2)          316.7
                                                                ----------------  ---------------   --------------   -------------
Gross profit                                                              238.9             61.0             24.5           324.4
Total operating expenses                                                  649.5             25.3           (550.2)          124.6
                                                                ----------------  ---------------   --------------   -------------
Income (loss) from operations                                            (410.6)            35.7            574.7           199.8
Interest and other income, net                                              9.1              1.2                -            10.3
                                                                ----------------  ---------------   --------------   -------------
Income  (loss) before income taxes                                       (401.5)            36.9            574.7           210.1
Income tax expense                                                         17.2             14.0             41.8            73.0
                                                                ----------------  ---------------   --------------   -------------
Net income (loss)                                                      $ (418.7)          $ 22.9          $ 532.9         $ 137.1
                                                                ================  ===============   ==============   =============
Net income per share                                                                                                      $  0.15
                                                                                                                     =============
Net income per share, diluted basis                                                                                       $  0.14
                                                                                                                     =============
Number of weighted average shares outstanding                                                                               929.4
Number of weighted average shares and equivalents                                                                         1,002.7

----------------------------------------------------------------
*Pro forma results  for the  quarter  ended June 30,  2001  exclude  the  $6,087.7  million
reduction of goodwill and purchased  intangibles;  $11.4 million effect on gross
profit  related to purchase  accounting  adjustments  of the value of inventory;
$1,143.3  million of  purchased  intangibles  amortization  and  in-process  R&amp;D
charges; $12.5 million refund of payroll taxes on stock option exercises; $562.0
million of realized and unrealized losses on equity  investments;  $30.4 million
of  non-cash  stock  compensation;  and $30.6  million  in  activity  related to
investments  accounted  for under the  equity  method of  accounting.  Pro forma
results  for the  quarter  ended  June 30,  2001  reflect  costs  of the  Global
Realignment Program and charges for the write-down of excess inventory. June 30,
2000 pro forma results include the separately reported results of E-TEK Dynamics
Inc.,  which was acquired on June 30, 2000 in a  transaction  accounted for as a
purchase.  Pro forma  results  for the quarter  ended June 30, 2000  exclude the
$23.9 million


</PRE>

<DIV align=left>
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</DIV>

<P ALIGN=CENTER><B>
                                                    JDS UNIPHASE CORPORATION<BR>
                                               PRO FORMA STATEMENTS OF OPERATIONS<BR></B>
                                              (in millions, except per share data)<BR>
                                                          (unaudited)<BR>
<PRE>
                                                                       Twelve months ended June 30, 2001
                                                               ---------------------------------------------------
                                                                 As Reported      Pro Forma AdjustmenPro Forma*
                                                               ----------------   --------------------------------
Net sales                                                            $ 3,232.8              $ -         $ 3,232.8
Cost of sales                                                          2,238.0            (95.8)          2,142.2
                                                               ----------------   --------------   ---------------
Gross profit                                                             994.8             95.8           1,090.6
Operating expenses:
Research and development                                                 325.9            (17.2)            308.7
Selling, general and administrative                                      810.3           (346.2)            464.1
Purchased intangibles amortization and in-process R &amp; D                5,867.7         (5,867.7)                -
Reduction of goodwill/intangibles                                     44,774.3        (44,774.3)                -
Restructuring charges                                                    264.3                -             264.3
                                                               ----------------   --------------   ---------------
Total operating expenses                                              52,042.5        (51,005.4)          1,037.1
Income (loss) from operations                                        (51,047.7)        51,101.2              53.5
Gain on sale of subsidiary                                             1,770.2         (1,770.2)                -
Activity related to equity method investments                           (883.9)           883.9                 -
Interest and other income (expense), net                                (520.8)           569.4              48.6
                                                               ----------------   --------------   ---------------
Income (loss) before income taxes                                    (50,682.2)        50,784.3             102.1
Income tax expense                                                      (124.2)           158.9              34.7
                                                               ----------------   --------------   ---------------
Net income (loss)                                                  $ (50,558.0)      $ 50,625.4            $ 67.4
                                                               ================   ==============   ===============
Net income (loss) per share                                        $    (46.30)                            $ 0.06
                                                               ================                    ===============
Net income (loss) per share, diluted basis                         $    (46.30)                            $ 0.06
                                                               ================                    ===============
Number of weighted average shares outstanding                          1,091.9                            1,091.9
Number of weighted average shares and equivalents                      1,091.9                            1,130.3


                                                                               Twelve months ended June 30, 2000
                                                               ------------------------------------------------------------------
                                                                JDS Uniphase          E-TEK        Pro Forma AdjustmePro Forma*
                                                               ----------------   --------------   ------------------------------
Net sales                                                            $ 1,430.4          $ 346.2            $ (5.8)     $ 1,770.8
Cost of sales                                                            751.6            174.2             (55.4)         870.4
                                                               ----------------   --------------   ---------------  -------------
Gross profit                                                             678.8            172.0              49.6          900.4
Total operating expenses                                               1,543.9             69.9          (1,274.8)         339.0
                                                               ----------------   --------------   ---------------  -------------
Income (loss) from operations                                           (865.1)           102.1           1,324.4          561.4
Interest and other income, net                                            35.3              6.1              (0.1)          41.3
                                                               ----------------   --------------   ---------------  -------------
Income  (loss) before income taxes                                      (829.8)           108.2           1,324.3          602.7
Income tax expense                                                        74.9             41.2              93.1          209.2
                                                               ----------------   --------------   ---------------  -------------
Net income (loss)                                                     $ (904.7)          $ 67.0         $ 1,231.2        $ 393.5
                                                               ================   ==============   ===============  =============
Net income per share                                                                                                     $  0.46
                                                                                                                    =============
Net income per share, diluted basis                                                                                      $  0.42
                                                                                                                    =============
Number of weighted average shares outstanding                                                                              854.1
Number of weighted average shares and equivalents                                                                          930.4

---------------------------------------------------------------
*Pro forma results for the year ended June 30, 2001 exclude the $44,774.3 million reduction
of goodwill and  intangibles,  $71.5 million  effect on gross profit  related to
purchase accounting  adjustments of the value of inventory;  $5,867.7 million of
purchased intangibles  amortization and in-process R&amp;D charges; $30.1 million of
payroll  taxes on  stock  option  exercises;  $569.4  million  of  realized  and
unrealized  losses  on  equity  investments;  $1,768.1  million  gain on sale of
subsidiary and related costs; $355.5 million of non-cash stock compensation; and
$883.9 million in activity related to investments accounted for under the equity
method of accounting. Pro forma results for the year ended June 30, 2001 reflect
costs of the Global Realignment Program and charges for the write-down of excess
inventory.  June 30,  2000 pro forma  results  include the  separately  reported
results  of E-TEK  Dynamics  Inc.,  which  was  acquired  on June 30,  2000 in a
transaction accounted for as a purchase. Pro forma results for the year ende


</PRE>

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