Operator: Good day, ladies and gentlemen, and welcome to the Fiscal Fourth Quarter 2010 JDSU Earnings Conference Call. My name is Melanie, and I will be your coordinator today. At this time, all participants are in a listen-only mode. We will accept your questions at the end of this conference. As a reminder, today’s call is being recorded.
I would now like to turn the call over to Cherryl Valenzuela, Senior Manager of Investor Relations. Please proceed.
Cherryl Valenzuela - IR: Thank you, Melanie, and welcome to JDSU's fiscal 2010 fourth quarter and year-end financial results conference call. Joining me on the call today are Tom Waechter, Chief Executive Officer and Dave Vellequette, Chief Financial Officer.
I'd like to remind you that this call will include forward-looking statements about the future financial performance of the Company. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from management's current expectations. We encourage you to look at the Company's most recent filings with the SEC, particularly the Risk Factors section of our report Form 10-Q filed May 07 2010 and in our most recent Annual Report.
The forward-looking statements, including guidance provided during this call, are valid only as of today's date, and JDSU undertakes no obligation to update these statements as we move through the quarter. Please note that all numbers are non-GAAP unless otherwise stated. A detailed reconciliation of these non-GAAP results to our GAAP results, as well as a discussion of their usefulness and limitations is included in today's news release announcing our results, which is available on our website at www.jdsu.com.
Also, please note that beginning this quarter JDSU will provide slides with detailed earnings data concurrently with the earnings press release. The slides for fiscal Q4 along with historical financial tables and corporate factsheet have all been posted in the investor portion of our website at www.jdsu.com/investors under the financial information section. These slides are supplementary in nature and will not accompany this earnings call.
Finally, and as a reminder, this call is being recorded and will be available for replay from the investor section of our website.
I would now like to turn the call over to Tom.
Thomas Waechter - President and CEO: Thank you, Sheryl and good afternoon everyone. I'd like to begin by providing an overview of our Q4 financial results followed by highlights of our business achievement in the quarter.
JDSU reported revenue of $398.1 million, as we continued to see robust demand across all of our segments. For the fifth quarter in the row, overall book-to-bill for the Company was above 1. Each of our three segments also had a book-to-bill greater than 1 with particular strength in our CCOP segment.
Overall gross margin for the Company improved to 45.5% from 44.1% last quarter and 42.2% last year as each segment improved its gross margin on a sequential basis. This quarter, we saw a return to more typical pricing environments in our CommTest and Optical communications businesses.