JDS Uniphase, the San Jose-based optical components company, reported a $51bn loss for its full-year.
The firm also announced 7000 more job cuts, having already shed 9000 this year.
The loss is thought to be a record in US corporate history, and includes a $38.7bn reduction in goodwill for Q3 to the end of March 2001, and a further $6.1bn reduction in goodwill for Q4 to the end of June.
These charges relate to acquisitions that are no longer considered to be so valuable — JDS is of course not the only firm which used stock to buy other companies as tech shares soared last year, and the fall in the value of those shares is reflected in these reductions.
Costs of $500m were also incurred in Q4 as part of its 'Global Realignment Programme', which is costing a total $950m, as were other charges relating to inventory write-down.
Fourth quarter sales of $601m at the firm were 6% down on last year and 35% down on the previous quarter. They bring full-year sales to $3.2bn, up from $1.43bn last year.
Q4 pre-tax losses were $8.58bn, compared to losses in the same period last year of $401.6m, while full-year losses were $50.68bn compared to losses of $829.8m.
JDS also warned it does not expect to meet its Q1 fiscal 2002 forecast of sales of $450m. It said it would not provide guidance for Q1 or beyond. Its Q1 will also bear the brunt of the rest of the costs of the realignment plan.