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Finisar Corporation &WFor the Quarter Ended July 31 2#
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4 Inventories&050 Convertible Senior Notes Du&050 Convertible Senior Note (1)8
7 Warranty&H8 Fair Value of Financial Instr&8 Fair Value of Financial I (1)Results of Operations Results of Operations (1) qResults of Operations (2) Results of Operations (3) Results of Operations (4) UResults of Operations (5) Results of Operations (6) 'Results of Operations (7) <2Results of Operations (8) <Results of Operations (9)!FResults of Operations (10)&QLiquidity and Capital ResourcesS[Item 6 Exhibits&k8Compliance with Laws and Regul
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7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }0}$ }
FINISAR CORP10Q
09/08/2016Finisar Corporation
Delaware
943038428'(State or other jurisdiction of(I.R.S. Employer&incorporation or organization)Identification No.)
1389 Moffett Park DriveSunnyvale, California~
&0((Address of principal executive offices)
(Zip Code)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0sgC
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Cash Flows3 Net Income per Share3 Net Income per Share (1)
4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }:}

FINISAR CORP10Q
09/08/2016+#For the Quarter Ended July 31, 2016
Page$PART I FINANCIAL INFORMATION&
Item 1. Financial Statements :
%Condensed Consolidated Balance Sheets~
+#as of July 31, 2016 and May 1, 2016,$Condensed Consolidated Statements of~
.&Operations for the three month periods.&ended July 31, 2016 and August 2, 2015,$Condensed Consolidated Statements of~
1)Comprehensive Income (Loss) for the three4,month periods ended July 31, 2016 and August2, 2015,$Condensed Consolidated Statements of~
4,Cash Flows for the three month periods ended( July 31, 2016 and August 2, 20151)Notes to Condensed Consolidated Financial~
"
Statements4,Item 2. Management's Discussion and Analysis~
:80of Financial Condition and Results of Operations7/Item 3. Quantitative and Qualitative Disclosure~
FAbout Market RiskDl{ocW?'b3S]1V !"#$%&'()*+,' Item 4. Controls and Procedures~
F!!PART II OTHER INFORMATION~
!N!"Item 1. Legal Proceedings~
"N#Item 1A. Risk Factors~
#N$Item 6. Exhibits~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Finisar Corporation !For the Quarter Ended July 31 2Income StatementIncome Statement (1)
Cash Flows3 Net Income per Share3 Net Income per Share (1)
4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }7}$
=
FINISAR CORP10Q
09/08/2016
Balance Sheet
July 31, 2016
May 1, 2016(Unaudited)ASSETS
Current assets:
!Cash and cash equivalents~
z~
VCShortterm investments~
~
^%Accounts receivable, net of allowance~
~
61)for doubtful accounts of $743 at July 31,$2016 and $727 at May 1, 2016"Accounts receivable, other~
z~
Inventories~
B~
.1)Prepaid expenses and other current assets~
Z#~
Total current assets~
.@H~
F%Property, equipment and improvements,~
~
Gnet( Purchased intangible assets, net~
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N?Other assets~
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ld,$LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:D2
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$z
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?$%Longterm liabilities:%%%0&(Convertible debt, net of current portion~
&B)&&~
&F&%'Other noncurrent liabilities~
'''~
''(Total liabilities~
(Z((~
('(%)Commitments and contingencies)))*Stockholders' equity:***4+,Preferred stock, $0.001 par value, 5,000,000 +?++ +?+/,'shares authorized, no shares issued and4,outstanding at July 31, 2016 and May 1, 20163.+Common stock, $0.001 par value, 750,000,000~
...~
../%shares authorized, 110,169,485 shares50and 107,696,314 shares issued and outstanding61.at July 31, 2016 and May 1, 2016, respectively"2Additional paidin capital~
2222~
22.3&Accumulated other comprehensive (loss)~
333~
3rv34income5Accumulated deficit~
5655~
5n5"6Total stockholders' equity~
6H66~
6EG627*Total liabilities and stockholders' equity~
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
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FINISAR CORP10Q
09/08/2016Income Statement
Three Months Ended
July 31, 2016August 2, 2015
Revenues
~
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~
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }0}$
FINISAR CORP10Q
09/08/2016Income Statement
Three Months Ended
July 31, 2016August 2, 2015
Net income~
6v~
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FINISAR CORP10Q
09/08/2016
Cash Flows
Three Months Ended
July 31, 2016August 2, 2015Operating activities
Net income~
6v
~
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }2}$
FINISAR CORP10Q
09/08/20163. Net Income per Share
Three Months Ended0((in thousands, except per share amounts)
July 31, 2016August 2, 2015
Numerator:
Net income~
6v
~
5
0(Numerator for basic net income per share~
6v~
52*Numerator for diluted net income per share~
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
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FINISAR CORP10Q
09/08/20163. Net Income per Share
Three Months Ended(in thousands)
July 31, 2016August 2, 20150(Stock options and restricted stock units~
~
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FINISAR CORP10Q
09/08/20164. Inventories 
%Inventories consist of the following:
As of(in thousands)
July 31, 2016May 1, 2016
Raw materials~
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6Total inventories~
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Cash Flows3 Net Income per Share3 Net Income per Share (1)
4 Inventories!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }7}$
FINISAR CORP10Q
09/08/2016/'0.50% Convertible Senior Notes Due 2033
Liability component:
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4 Inventories!050 Convertible Senior Notes Du
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FINISAR CORP10Q
09/08/2016/'0.50% Convertible Senior Notes Due 2033
Three Months Ended*"(in thousands, except percentages)
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FINISAR CORP10Q
09/08/20167. Warranty
Three Months Ended(in thousands)
July 31, 2016( Beginning balance at May 1, 2016~
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09/08/2016.&8. Fair Value of Financial Instruments
July 31, 2016
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09/08/2016.&8. Fair Value of Financial Instruments
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FINISAR CORP10Q
09/08/2016Results of Operations
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FINISAR CORP10Q
09/08/2016Results of Operations
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }m)}$ }
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FINISAR CORP10Q
09/08/2016Results of Operations
'
Impairment of LongLived Assets
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July 31, 2016August 2, 2015 Change
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }m)}$ }$}$ }$}$ }
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FINISAR CORP10Q
09/08/2016Results of Operations
Gross Profit
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }m)}$ }
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FINISAR CORP10Q
09/08/2016Results of Operations
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!Research and Development Expenses
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July 31, 2016August 2, 2015 Change
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Cash Flows3 Net Income per Share3 Net Income per Share (1)
4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }m)}$ }
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FINISAR CORP10Q
09/08/2016Results of Operations
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }*}$ }
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FINISAR CORP10Q
09/08/2016Results of Operations
+
#General and Administrative Expenses
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }m)}$ }
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FINISAR CORP10Q
09/08/2016Results of Operations
Interest Income
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }m)}$ }
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FINISAR CORP10Q
09/08/2016Results of Operations
Interest Expense
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }m)}$ }
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FINISAR CORP10Q
09/08/2016Results of Operations
#
Other Income (Expense), Net
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Cash Flows3 Net Income per Share3 Net Income per Share (1)
4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)!Liquidity and Capital ResourcesItem 6 Exhibits!8Compliance with Laws and RegulU }m)}$ }
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FINISAR CORP10Q
09/08/2016Results of Operations
"
Provision for Income Taxes
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July 31, 2016August 2, 2015 Change
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Cash Flows3 Net Income per Share3 Net Income per Share (1)
4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)Item 6 Exhibits!8Compliance with Laws and RegulU }1}$
FINISAR CORP10Q
09/08/2016'Liquidity and Capital Resources
Three Months Ended
(in millions)
July 31, 2016August 2, 20151)Net cash provided by operating activities33333G@LA@
%Net cash used in investing activities
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Cash Flows3 Net Income per Share3 Net Income per Share (1)
4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital Resources!8Compliance with Laws and RegulU }}$ }@
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FINISAR CORP10Q
09/08/2016Item 6. Exhibits
Exhibit Number
Exhibit Description333333$@.&Form of Restricted Stock Unit Issuance
Agreement  Officers?@,$Certification of Principal Executive=5Officer pursuant to Section 302 of the SarbanesOxleyAct of 2002333333?@,$Certification of Principal Financial=5Officer pursuant to Section 302 of the SarbanesOxleyAct of 2002@@0(Certification of Chief Executive Officer6.Pursuant to 18 U.S.C. Section 1350, as adopted5pursuant to Section 906 of the SarbanesOxleyAct of 2002@@0(Certification of Chief Financial Officer6.Pursuant to 18 U.S.C. Section 1350, as adopted5pursuant to Section 906 of the SarbanesOxleyAct of 2002101.INSXBRL Instance Document101.SCH&XBRL Taxonomy Extension Schema101.CAL4,XBRL Taxonomy Extension Calculation Linkbase101.DEF3+XBRL Taxonomy Extension Definition LinkbaseDV lvjFU1W3a !"#$%&' 101.LAB . &XBRL Taxonomy Extension Label Linkbase!101.PRE!,!$XBRL Taxonomy Extension Presentation"""Linkbase#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/`4(=PF0*8X>
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4 Inventories!050 Convertible Senior Notes Du!050 Convertible Senior Note (1)
7 Warranty!8 Fair Value of Financial Instr!8 Fair Value of Financial I (1)Results of Operations Results of Operations (1)Results of Operations (2)Results of Operations (3)Results of Operations (4)Results of Operations (5)Results of Operations (6)Results of Operations (7)Results of Operations (8)Results of Operations (9)Results of Operations (10)!Liquidity and Capital ResourcesItem 6 ExhibitsU }}<(
FINISAR CORP10Q
09/08/2016/'8.Compliance with Laws and Regulations.
FINISAR CORPORATIONBy:/S/ Kurt AdzemaTitle:)!Executive Vice President, Finance
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