Oclaro 10-Q 8 May 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2018	May 04, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	OCLR
Entity Registrant Name	OCLARO, INC.
Entity Central Index Key	1,110,647
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		170,213,690

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Jul. 01, 2017
Current assets:
Cash and cash equivalents	$ 179,969	$ 219,270
Restricted cash	0	716
Short-term investments	124,433	37,559
Accounts receivable, net of allowances for doubtful accounts of $1,333 and $1,533 as of March 31, 2018 and July 1, 2017, respectively	111,564	122,287
Inventories	103,927	101,068
Prepaid expenses and other current assets	38,983	40,870
Total current assets	558,876	521,770
Property and equipment, net	137,999	114,333
Other intangible assets, net	241	699
Deferred tax assets	19,325	25,774
Other non-current assets	1,622	2,573
Total assets	718,063	665,149
Current liabilities:
Accounts payable	73,124	88,316
Accrued expenses and other liabilities	42,159	42,499
Capital lease obligations, current	2,514	2,368
Total current liabilities	117,797	133,183
Deferred gain on sale-leaseback	5,747	5,895
Capital lease obligations, non-current	1,033	1,379
Other non-current liabilities	11,212	11,019
Total liabilities	135,789	151,476
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock: 1,000 shares authorized; none issued and outstanding	0	0
Common stock: $0.01 par value per share; 275,000 shares authorized; 170,211 shares issued and outstanding at March 31, 2018 and 167,639 shares issued and outstanding at July 1, 2017	1,701	1,676
Additional paid-in capital	1,700,120	1,688,777
Accumulated other comprehensive income	42,441	40,973
Accumulated deficit	(1,161,988)	(1,217,753)
Total stockholders’ equity	582,274	513,673
Total liabilities and stockholders’ equity	$ 718,063	$ 665,149

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Jul. 01, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,333	$ 1,533
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	275,000,000	275,000,000
Common stock, shares issued	170,211,000	167,639,000
Common stock, shares outstanding	170,211,000	167,639,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Income Statement [Abstract]
Revenues	$ 127,293	$ 162,182	$ 422,226	$ 451,588
Cost of revenues	83,729	95,394	264,130	277,680
Gross profit	43,564	66,788	158,096	173,908
Operating expenses:
Research and development	16,412	14,479	48,205	41,344
Selling, general and administrative	16,002	14,736	47,760	42,883
Amortization of other intangible assets	154	150	460	635
Restructuring, acquisition and related (income) expense, net	3,084	(301)	3,084	92
(Gain) loss on sale of property and equipment	(19)	(16)	172	(127)
Total operating expenses	35,633	29,048	99,681	84,827
Operating income	7,931	37,740	58,415	89,081
Other income (expense):
Interest income (expense), net	253	175	810	(13,613)
Gain (loss) on foreign currency transactions, net	2,107	687	4,195	(3,155)
Other income (expense), net	906	233	2,416	583
Total other income (expense)	3,266	1,095	7,421	(16,185)
Income before income taxes	11,197	38,835	65,836	72,896
Income tax provision	390	621	9,803	1,064
Net income	$ 10,807	$ 38,214	$ 56,033	$ 71,832
Net income per share:
Basic (in USD per share)	$ 0.06	$ 0.23	$ 0.33	$ 0.46
Diluted (in USD per share)	$ 0.06	$ 0.22	$ 0.33	$ 0.44
Shares used in computing net income per share:
Basic (in shares)	169,602	166,808	168,910	155,037
Diluted (in shares)	171,261	169,841	171,338	163,237

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 10,807	$ 38,214	$ 56,033	$ 71,832
Other comprehensive income:
Unrealized gain (loss) on marketable securities	13	(10)	(27)	(5)
Currency translation adjustments	0	1,775	1,495	(1,470)
Total comprehensive income	$ 10,820	$ 39,979	$ 57,501	$ 70,357

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Cash flows from operating activities:
Net income	$ 56,033	$ 71,832
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred gain on sale-leaseback	(596)	(553)
Amortization (accretion) of premiums and discounts on short-term investments	(784)	0
Amortization of debt discount and issuance costs in connection with convertible notes payable	0	102
Depreciation and amortization	21,746	15,360
Adjustment in deferred tax assets	6,905	0
Interest make-whole charge and induced conversion expense related to convertible notes	0	8,463
Stock-based compensation expense	11,055	7,922
Write-down of inventories designated to be sold to ZTE	3,083	0
Other non-cash adjustments	172	(128)
Changes in operating assets and liabilities:
Accounts receivable, net	12,864	(32,402)
Inventories	(4,157)	(16,068)
Prepaid expenses and other current assets	2,758	(16,579)
Other non-current assets	(167)	(275)
Accounts payable	(13,081)	22,266
Accrued expenses and other liabilities	(611)	11,746
Net cash provided by operating activities	95,220	71,686
Cash flows from investing activities:
Purchases of property and equipment	(47,272)	(50,022)
Purchases of short-term investments	(197,344)	(40,001)
Maturities of short-term investments	111,283	0
Transfer from restricted cash	716	(1)
Net cash used in investing activities	(132,617)	(90,024)
Cash flows from financing activities:
Proceeds from the exercise of stock options	2,556	4,531
Shares repurchased for tax withholdings on vesting of restricted stock units	(3,013)	(3,675)
Proceeds from the sale of common stock in connection with the public offering, net of expenses	0	135,153
Payments on capital lease obligations	(895)	(1,897)
Net cash provided by (used in) financing activities	(1,352)	134,112
Effect of exchange rate on cash and cash equivalents	(552)	2,360
Net increase (decrease) in cash and cash equivalents	(39,301)	118,134
Cash and cash equivalents at beginning of period	219,270	95,929
Cash and cash equivalents at end of period	179,969	214,063
Supplemental disclosures of cash flow information:
Cash paid for interest make-whole and induced conversion charges related to the exercise of convertible notes	0	4,700
Supplemental disclosures of non-cash transactions:
Issuance of common stock in exchange for the net carrying value of the liability component of the convertible notes	0	62,125
Purchases of property and equipment funded by accounts payable	7,106	11,831
Capital lease obligations incurred for purchases of property and equipment	$ 709	$ 397

BASIS OF PREPARATION

BASIS OF PREPARATION	9 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PREPARATION	BASIS OF PREPARATION Basis of Presentation Oclaro, Inc., a Delaware corporation, is sometimes referred to in this Quarterly Report on Form 10-Q as “Oclaro,” “we,” “us” or “our.” The accompanying unaudited condensed consolidated financial statements of Oclaro as of March 31, 2018 and for the three and nine months ended March 31, 2018 and April 1, 2017 have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Article 10 of Securities and Exchange Commission ("SEC") Regulation S-X, and include the accounts of Oclaro and all of our subsidiaries. Accordingly, they do not include all of the information and footnotes required by such accounting principles for annual financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of our consolidated financial position and results of operations have been included. The condensed consolidated results of operations for the three and nine months ended March 31, 2018 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending June 30, 2018 . The condensed consolidated balance sheet as of July 1, 2017 has been derived from our audited financial statements as of such date, but does not include all disclosures required by U.S. GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with our audited financial statements included in our Annual Report on Form 10-K for the year ended July 1, 2017 (" 2017 Form 10-K"). Merger On March 11, 2018, Lumentum Holdings Inc., a Delaware corporation (“Lumentum”), Oclaro, Prota Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Lumentum (“Merger Sub”), and Prota Merger, LLC, a Delaware limited liability company and a wholly owned subsidiary of Lumentum (“Merger Sub LLC”), entered into an Agreement and Plan of Merger (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, the acquisition of Oclaro will be accomplished through a merger of Merger Sub with and into Oclaro (the “First Step Merger”) with Oclaro surviving the First Step Merger. As soon as reasonably practicable following the First Step Merger, Oclaro will merge with and into Merger Sub LLC with Merger Sub LLC continuing as the surviving entity and a wholly owned subsidiary of Lumentum (the “Second Step Merger,” and taken together with the First Step Merger, the “Merger”). Pursuant to the terms of the Merger Agreement, and subject to the terms and conditions set forth therein, at the effective time of the First Step Merger (the “Effective Time”), each share of the common stock of Oclaro (the “Oclaro Common Stock”) issued and outstanding immediately prior to the Effective Time (other than (x) shares of Oclaro Common Stock owned by Lumentum, Oclaro, or any direct or indirect wholly owned subsidiary of Lumentum or Oclaro or (y) shares of Oclaro Common Stock owned by stockholders who have properly exercised and perfected appraisal rights under Delaware law, in each case immediately prior to the Effective Time, will be cancelled and extinguished and automatically converted into the right to receive the following consideration (collectively, the “Merger Consideration”): (A) $5.60 in cash, without interest (the “Cash Consideration”), plus (B) 0.0636 of a validly issued, fully paid and nonassessable share of the common stock of Lumentum, par value $0.001 per share (“Lumentum Common Stock”) (such ratio, the “Exchange Ratio”). With regard to the Merger Consideration, if the aggregate number of shares of Lumentum Common Stock to be issued in connection with the Merger (including all Lumentum Common Stock which may be issued in the future pursuant to the conversion of Oclaro Options, Oclaro Restricted Stock Units, or Oclaro Restricted Stock (as defined below) would exceed 19.9 percent of the Lumentum Common Stock issued and outstanding immediately prior to the Effective Time (the “Stock Threshold”), (A) the Exchange Ratio will be reduced to the minimum extent necessary (rounded down to the nearest one thousandth) such that the aggregate number of shares of Lumentum Common Stock to be issued in connection with the Merger (including all shares of Lumentum Common Stock which may be issued after the Effective Time pursuant to company compensatory awards) does not exceed the Stock Threshold and (B) the Cash Consideration for all purposes will be increased on a per share basis by an amount equal to $68.975 , multiplied by the difference between the initial Exchange Ratio and the Exchange Ratio. Each Oclaro restricted stock unit award (an “Oclaro RSU”) that does not become vested at the closing will be converted into a Lumentum restricted stock unit award (a “Lumentum RSU”) with the same terms and conditions, including vesting, that were applicable to such Oclaro RSU, except that the number of Lumentum shares subject to the Lumentum RSU will equal the product of (i) the number of Oclaro shares subject to such Oclaro RSU (with any performance milestones deemed achieved based on the maximum level of achievement) multiplied by (ii) the sum of (A) the Exchange Ratio plus (B) the quotient obtained by dividing the Cash Consideration by Lumentum’s average closing price of the 10 trading days ending on the third trading day prior to the closing (such sum, the “Equity Award Exchange Ratio”), rounded down to the nearest whole share. Each Oclaro stock option (an “Oclaro Option”), whether vested or unvested, will be converted into a Lumentum stock option (a “Lumentum Option”) with the same terms and conditions, including vesting, that were applicable to such Oclaro Option, except that (i) the number of shares subject to the Lumentum Option will equal the product of (A) the number of Oclaro shares subject to such Oclaro Option multiplied by (B) the Equity Award Exchange Ratio, rounded down to the nearest whole share and (ii) the exercise price of the Lumentum Option will equal (A) the exercise price per share of the Oclaro Option divided by (B) the Equity Award Exchange Ratio, rounded up to the nearest whole cent. Notwithstanding the foregoing, any Oclaro Option that is held by an individual who is not an Oclaro employee as of immediately prior to the closing will be cancelled and converted into the Merger Consideration for each net option share covered by such Oclaro Option, subject to applicable withholding taxes. In addition, each Oclaro restricted stock award (“Oclaro Restricted Stock Award”) and Oclaro RSU that becomes vested as of immediately prior to the closing (including each Oclaro Restricted Stock Award held by a non-employee director) will be converted into the right to receive the Merger Consideration in respect of each Oclaro share underlying such award, subject to applicable withholding taxes. Each Oclaro stock appreciation right (“Oclaro SAR”) will be cancelled and converted into the right to receive a cash amount equal to the product of (i) the number of Oclaro shares subject to the Oclaro SAR multiplied by (ii) the positive difference of (A) the cash equivalent value of the Merger Consideration less (B) the strike price of the Oclaro SAR, subject to applicable withholding taxes. If Lumentum determines that the treatment of Oclaro equity awards described above would violate, in respect of the holder thereof, the applicable laws of a non-U.S. jurisdiction, Lumentum may treat such Oclaro equity award in a different manner so long as such treatment is no less favorable to the holder of such Oclaro equity award. The Boards of Directors of Lumentum and Oclaro have unanimously approved the Merger and the Merger Agreement. The transaction is subject to customary closing conditions, including the absence of certain legal impediments, the expiration or termination of the required waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act") and under applicable anti-trust laws in the People's Republic of China, the effectiveness of a registration statement on Form S-4 registering the shares of Lumentum common stock to be issued in connection with the Merger, and approval by the holders of a majority of the outstanding shares of Oclaro Common Stock. The transaction is not subject to any financing condition. On April 4, 2018, the U.S. Federal Trade Commission granted early termination of the waiting period under the HSR Act. The Merger Agreement contains customary representations, warranties and covenants of Lumentum, Oclaro, Merger Sub and Merger Sub LLC, including, (i) covenants by Oclaro concerning the conduct of its business in the ordinary course consistent with past practice during the interim period between the execution of the Merger Agreement and the consummation of the Merger, (ii) covenants by Lumentum concerning the conduct of its business in the ordinary course consistent with past practice during the interim period between the execution of the Merger Agreement and the consummation of the Merger, (iii) a covenant by Oclaro that, subject to certain exceptions, the Board of Directors of Oclaro will recommend to its shareholders adoption of the Merger Agreement, and (iv) a covenant that Oclaro will not solicit, initiate, or knowingly encourage, facilitate or induce the making of inquiry, offer or proposal that would reasonably be expected to lead to any Acquisition Proposal (as defined in the Merger Agreement). The Merger Agreement contains certain termination rights for both Lumentum and Oclaro and further provides that upon termination of the Merger Agreement under specified circumstances (including termination by Oclaro to accept a superior proposal), Oclaro may be required to pay Lumentum a termination fee of $63 million . The Merger Agreement further provides that upon termination of the Merger Agreement under specified circumstances relating to failure to obtain regulatory approvals, Lumentum may be required to pay Oclaro a termination fee of $80 million . During the three and nine months ended March 31, 2018, we recorded acquisition-related costs of $3.1 million in restructuring, acquisition and related (income) expense, net, within our condensed consolidated statements of operations. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reported periods. Examples of significant estimates and assumptions made by management involve the fair value of other intangible assets and long-lived assets, valuation allowances for deferred tax assets, the fair value of stock-based compensation, the fair value of pension liabilities, estimates for allowances for doubtful accounts and valuation of excess and obsolete inventories. These judgments can be subjective and complex and consequently actual results could differ materially from those estimates and assumptions. Descriptions of the key estimates and assumptions are included in our 2017 Form 10-K. Fiscal Years We operate on a 52/53 week year ending on the Saturday closest to June 30. Our fiscal year ending June 30, 2018 will be a 52 week year, with the quarter ended March 31, 2018 being a 13 week quarterly period. Our fiscal year ended July 1, 2017 was a 52 week year, with the quarter ended April 1, 2017 being a 13 week quarterly period. Reclassifications For presentation purposes, we have reclassified certain prior period amounts to conform to the current period financial statement presentation, including an adjustment relating to an immaterial error of approximately $8.2 million , increasing cash flows from operations associated with changes in accounts payable and increasing cash flows used in investing activities associated with purchases of property and equipment, in our condensed consolidated statement of cash flows for the nine months ended April 1, 2017 . We determined that the adjustments did not have a material impact to our prior period consolidated financial statements. Functional Currency Effective October 1, 2017, the functional currency for our worldwide operations is the U.S. dollar. Prior to October 1, 2017, the functional currency for each of our foreign subsidiaries was the respective local currency for that subsidiary. The change in our functional currency is a result of significant changes in economic facts and circumstances, including (i) a re-organization of our operating environment, which includes consolidating and integrating our sales, supply chain and manufacturing organizations; (ii) a transition to centrally negotiating worldwide supplier contracts and capital expenditures in U.S. dollars; and (iii) a shift to recording all intercompany transactions in U.S. dollars. Translation adjustments reported prior to October 1, 2017, will remain as a component of accumulated other comprehensive income in our condensed consolidated balance sheet. The translated values for any non-monetary assets and liabilities as of October 1, 2017 become the new accounting basis for those assets. Effective October 1, 2017, monetary assets and liabilities denominated in currencies other than the U.S. dollar functional currency are re-measured each reporting period into U.S. dollars, with the resulting exchange gains and losses reported in gain (loss) on foreign currency transactions, net within our condensed consolidated statement of operations. U.S. Tax Reform On December 22, 2017, H.R.1, commonly referred to as the Tax Cuts and Jobs Act ("TCJA"), was signed into law. Among other things, the TCJA permanently lowers the corporate federal income tax rate to 21 percent from the existing maximum rate of 35 percent , effective for tax years including or commencing January 1, 2018. Since we operate on a 52/53 week year ending on the Saturday closest to June 30, the lower corporate income tax rate will be phased in, resulting in a U.S. statutory federal rate of approximately 28 percent for our fiscal year ending June 30, 2018, and 21 percent for subsequent fiscal years. As a result of the reduction of the corporate federal income tax rate to 21 percent , U.S. GAAP requires companies to re-value their deferred tax assets and deferred tax liabilities as of the date of enactment, with the resulting tax effects accounted for in the reporting period of enactment. We have concluded this will cause our net deferred taxes to be re-measured at the new lower tax rate. The estimated rate change impact to our net deferred tax assets is a reduction of $31.6 million . We maintain a full valuation allowance on our U.S. net deferred tax assets. Deferred tax asset re-measurement (tax expense) will be offset by a net decrease in valuation allowance, resulting in no impact on our income tax for the period ending March 31, 2018. We have not completed the revaluation calculation and will disclose any adjustments in our fiscal year-end financial statements. Additionally, TCJA introduces new international tax provisions that will be effective for our fiscal year 2019, including (i) a new provision designed to currently tax the global low-taxed income of our foreign subsidiaries known as GILTI, together with a deduction of up to 50 percent and a partial credit for foreign taxes incurred by the foreign subsidiaries; (ii) limitations on the deductibility of certain base eroding payments to foreign entities; and (iii) limitations on the use of foreign tax credits to reduce U.S. income tax liability. While each of these provisions may have an impact on our tax expense for fiscal year 2019 and future periods, we expect the tax on low-taxed income of foreign subsidiaries to have the most significant impact. Because of the complexity of the new tax on low-taxed income of foreign subsidiaries and uncertainties regarding its application in certain circumstances, we are continuing to evaluate this provision of the TCJA and its impact on our determination of the realizability of our deferred tax assets. We elected to utilize the reporting provisions of the SEC's Staff Accounting Bulletin 118 ("SAB 118"), as we did not have the necessary information available, prepared or analyzed for certain future taxable income tax effects of the TCJA in order to determine a reasonable estimate to be included as provisional amounts. We will not adjust our current or deferred taxes for those tax effects of the TCJA, for which we are unable to reasonably estimate, until a reasonable estimate can be determined.

RECENT ACCOUNTING STANDARDS

RECENT ACCOUNTING STANDARDS	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
RECENT ACCOUNTING STANDARDS	RECENT ACCOUNTING STANDARDS In March 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 , to incorporate changes due to the TCJA being signed into law on December 22, 2017. This guidance is effective for us upon issuance. See Note 1. Basis of Preparation and Note 10. Income Taxes for the impact of this guidance on our financial statements and footnote disclosures. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the TCJA. The guidance will be effective for us in the first quarter of fiscal 2020, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation , to provide clarity and reduce both (i) diversity in practice and (ii) cost and complexity associated with changes to the terms or conditions of a share-based payment award. The guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , changing the presentation of net periodic benefit cost in the income statement. The guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations: Clarifying the Definition of a Business , providing guidance for evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill and consolidation. The guidance will be effective for us in the first quarter of fiscal 2019. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows: Restricted Cash to standardize the presentation of transfers between cash and restricted cash in the cash flow statement. Amounts described as restricted cash should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory , to reduce the complexity related to the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. This guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments to reduce the diversity in practice related to the presentation and classification of various cash flow scenarios. This guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In May 2014 and May 2016, the FASB issued ASU 2014-09, Revenue from Contracts with Customers and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients , respectively. These updates clarify the principles for recognizing revenue and develop a common revenue standard for GAAP and International Financial Reporting Standards. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The guidance permits two methods of adoption, the full retrospective method applying the standard to each prior reporting period presented, or the modified retrospective method with a cumulative effect of initially applying the guidance recognized at the date of initial application. We currently plan on adopting this guidance on July 1, 2018, the start to our first quarter of fiscal 2019, using the modified retrospective method with a cumulative catch up adjustment and providing additional disclosures comparing results to previous rules. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases , which requires recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This guidance will be effective for us in the first quarter of fiscal 2020, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures.

BALANCE SHEET DETAILS

BALANCE SHEET DETAILS	9 Months Ended
	Mar. 31, 2018
Balance Sheet Details [Abstract]
BALANCE SHEET DETAILS	BALANCE SHEET DETAILS Cash and Cash Equivalents The following table provides details regarding our cash and cash equivalents at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Cash and cash equivalents: Cash-in-bank $ 91,429 $ 79,259 Money market funds 64,573 99,037 Commercial paper 23,967 22,981 Corporate bonds — 2,012 U.S. agency securities — 15,981 $ 179,969 $ 219,270 Short-Term Investments The following table provides details regarding our short-term investments at the dates indicated: March 31, 2018 July 1, 2017 Short-term investments (Thousands) Commercial paper $ 58,461 $ 23,459 U.S. Treasury securities 55,833 4,006 Corporate bonds 10,139 10,094 $ 124,433 $ 37,559 Inventories The following table provides details regarding our inventories at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Inventories: Raw materials $ 22,404 $ 32,421 Work-in-process 58,212 40,171 Finished goods 23,311 28,476 $ 103,927 $ 101,068 Property and Equipment, Net The following table provides details regarding our property and equipment, net at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Property and equipment, net: Buildings and improvements $ 11,601 $ 10,222 Plant and machinery 135,347 99,779 Fixtures, fittings and equipment 3,499 3,225 Computer equipment 24,472 15,901 174,919 129,127 Less: Accumulated depreciation (36,920 ) (14,794 ) $ 137,999 $ 114,333 Property and equipment includes assets under capital leases of $3.5 million and $3.7 million at March 31, 2018 and July 1, 2017 , respectively. Amortization associated with assets under capital leases is recorded in depreciation expense. During fiscal 2017, we began the implementation of a new enterprise resource planning ("ERP") system. We capitalized certain costs incurred in connection with the development of this internal use software, totaling $14.4 million . During the second quarter of fiscal 2018, we began using the ERP software for its intended use, and began recording depreciation expense. Other Intangible Assets, Net The following table summarizes the activity related to our other intangible assets for the nine months ended March 31, 2018 : Core and Development Customer Patent Other Accumulated Amortization Total (Thousands) Balance at July 1, 2017 $ 6,249 $ 4,496 $ 2,402 $ 915 $ 3,338 $ (16,701 ) $ 699 Amortization — — — — — (460 ) (460 ) Other adjustments — 2 — — — — 2 Balance at March 31, 2018 $ 6,249 $ 4,498 $ 2,402 $ 915 $ 3,338 $ (17,161 ) $ 241 We expect the amortization of intangible assets to be $0.2 million for the remainder of fiscal 2018 and less than $0.1 million for fiscal 2019, based on the current level of our other intangible assets as of March 31, 2018 . Accrued Expenses and Other Liabilities The following table presents details regarding our accrued expenses and other liabilities at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Accrued expenses and other liabilities: Trade payables $ 2,400 $ 7,805 Compensation and benefits related accruals 13,156 13,837 Warranty accrual 4,149 4,124 Purchase commitments in excess of future demand, current 7,662 4,009 Other accruals 14,792 12,724 $ 42,159 $ 42,499 Accumulated Other Comprehensive Income The following table presents the components of accumulated other comprehensive income at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Accumulated other comprehensive income: Currency translation adjustments $ 42,626 $ 41,131 Unrealized loss on marketable securities (35 ) (8 ) Japan defined benefit plan (150 ) (150 ) $ 42,441 $ 40,973

FAIR VALUE

FAIR VALUE	9 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE We define fair value as the estimated price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk. We apply the following fair value hierarchy, which ranks the quality and reliability of the information used to determine fair values: Level 1- Quoted prices in active markets for identical assets or liabilities. Level 2- Inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices of identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets), or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3- Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. Our cash equivalents and short-term investment instruments are generally classified within Level 1 or Level 2 of the fair value hierarchy because they are valued using quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. The types of instruments valued based on quoted market prices in active markets include most money market funds, which are generally classified within Level 1 of the fair value hierarchy. The types of instruments valued based on other observable inputs include investment-grade corporate bonds, commercial paper, U.S. Treasury and agency securities, which are generally classified within Level 2 of the fair value hierarchy. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are shown in the table below by their corresponding balance sheet caption and consisted of the following types of instruments at March 31, 2018 and July 1, 2017 : Fair Value Measurement at March 31, 2018 Using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total (Thousands) Assets: Cash and cash equivalents: (1) Money market funds $ 64,573 $ — $ — $ 64,573 Commercial paper — 23,967 — 23,967 Short-term investments: Commercial paper — 58,461 — 58,461 U.S. Treasury securities — 55,833 — 55,833 Corporate bonds — 10,139 — 10,139 Total assets measured at fair value $ 64,573 $ 148,400 $ — $ 212,973 (1) Excludes $91.4 million in cash held in our bank accounts at March 31, 2018 . Fair Value Measurement at July 1, 2017 Using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total (Thousands) Assets: Cash and cash equivalents: (1) Money market funds $ 99,037 $ — $ — $ 99,037 Commercial paper — 22,981 — 22,981 U.S. agency securities — 15,981 — 15,981 Corporate bonds — 2,012 — 2,012 Restricted cash: Money market funds 712 — — 712 Short-term investments: Commercial paper — 23,459 — 23,459 Corporate bonds — 10,094 — 10,094 U.S. Treasury securities — 4,006 — 4,006 Total assets measured at fair value $ 99,749 $ 78,533 $ — $ 178,282 (1) Excludes $79.3 million in cash held in our bank accounts at July 1, 2017 .

CONVERTIBLE NOTES

CONVERTIBLE NOTES	9 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
CONVERTIBLE NOTES	CONVERTIBLE NOTES 6.00% Convertible Senior Notes due 2020 (" 6.00% Notes") On February 12, 2015, we entered into a Purchase Agreement (the “Purchase Agreement”), with Jefferies LLC (the “Initial Purchaser”), pursuant to which we agreed to issue and sell to the Initial Purchaser up to $65.0 million in aggregate principal Convertible Senior Notes due 2020 (the “ 6.00% Notes”). On February 19, 2015, we closed the private placement of $65.0 million aggregate principal amount of the 6.00% Notes. The 6.00% Notes were sold at 100 percent of par, resulting in net proceeds of approximately $61.6 million , after deducting the Initial Purchaser’s discounts of $3.4 million . We also incurred offering expenses of $0.6 million . The 6.00% Notes were scheduled to mature on February 15, 2020 and bore interest at a fixed rate of 6.00 percent per year, payable semi-annually in arrears on February 15 and August 15 of each year, beginning on August 15, 2015. In August 2016, we entered into multiple privately negotiated agreements, pursuant to which all of our 6.00% Notes were canceled, and the indenture, by and between us and U.S. Bank National Association, pursuant to which the 6.00% Notes were issued, was satisfied and discharged. In connection with these privately negotiated agreements, we issued a total of 34,659,972 shares of our common stock and made total cash payments of $4.7 million . Pursuant to the terms of the indenture governing the 6.00% Notes, we recorded an interest make-whole charge of $5.9 million in interest (income) expense, net, in the condensed consolidated statements of operations for the nine months ended April 1, 2017 , which was settled with a combination of common stock issuances and cash payments. We also recorded an induced conversion expense of $7.4 million , which we recorded in interest (income) expense, net, in the condensed consolidated statements of operations for the nine months ended April 1, 2017 . See Note 6. Credit Line and Notes in our 2017 Form 10-K for further details regarding the 6.00% Notes.

POST-RETIREMENT BENEFITS

POST-RETIREMENT BENEFITS	9 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
POST-RETIREMENT BENEFITS	POST-RETIREMENT BENEFITS We maintain a defined contribution plan and a defined benefit plan that provides retirement benefits to our employees in Japan. We also contribute to a U.K. based defined contribution pension scheme for employees. Japan Defined Contribution Plan Under the defined contribution plan in Japan, contributions are provided based on grade level and totaled $0.1 million and $0.4 million for the three and nine months ended March 31, 2018 , respectively and $0.1 million and $0.4 million for the three and nine months ended April 1, 2017 , respectively. Employees can elect to receive the benefit as additional salary or contribute the benefit to the plan on a tax-deferred basis. Japan Defined Benefit Plan Under the defined benefit plan in Japan (the “Japan Plan”), we calculate benefits based on an employee’s individual grade level and years of service. Employees are entitled to a lump sum benefit upon retirement or upon certain instances of termination. As of March 31, 2018 , there were no plan assets associated with the Japan Plan. As of March 31, 2018 , there was $0.2 million in accrued expenses and other liabilities and $7.1 million in other non-current liabilities in our condensed consolidated balance sheet to account for the projected benefit obligations under the Japan Plan. Net periodic pension costs for the Japan Plan included the following: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) Service cost $ 163 $ 172 $ 477 $ 480 Interest cost 5 1 15 3 Net periodic pension costs $ 168 $ 173 $ 492 $ 483 We made $0.1 million in benefit payments under the Japan Plan during the three and nine months ended March 31, 2018 . We made minimal benefit payments during the three months ended April 1, 2017 and $0.2 million in benefit payments during the nine months ended April 1, 2017 , respectively. U.K. Defined Contribution Pension Scheme Under the defined contribution pension scheme, employer contributions totaled $0.3 million and $1.1 million for the three and nine months ended March 31, 2018 , respectively, and $0.3 million and $0.8 million for the three and nine months ended April 1, 2017 , respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Loss Contingencies We are involved in various lawsuits, claims, and proceedings that arise in the ordinary course of business. We record a loss provision when we believe it is both probable that a liability has been incurred and the amount can be reasonably estimated. Guarantees We indemnify our directors and certain employees as permitted by law, and have entered into indemnification agreements with our directors and executive officers. We have not recorded a liability associated with these indemnification arrangements, as we historically have not incurred any material costs associated with such indemnification obligations. Costs associated with such indemnification obligations may be mitigated by insurance coverage that we maintain, however, such insurance may not cover any, or may cover only a portion of, the amounts we may be required to pay. In addition, we may not be able to maintain such insurance coverage in the future. We also have indemnification clauses in various contracts that we enter into in the normal course of business, such as indemnifications in favor of customers in respect of liabilities they may incur as a result of purchasing our products should such products infringe the intellectual property rights of a third party. We have not historically paid out any material amounts related to these indemnifications; therefore, no accrual has been made for these indemnifications. See Litigation - Oyster Optics Litigation below for additional details. Warranty Accrual We generally provide a warranty for our products for twelve months to thirty-six months from the date of sale, although warranties for certain of our products may be longer. We accrue for the estimated costs to provide warranty services at the time revenue is recognized. Our estimate of costs to service our warranty obligations is based on historical experience and expectation of future conditions. To the extent we experience increased warranty claim activity or increased costs associated with servicing those claims, our warranty costs would increase, resulting in a decrease in gross profit. The following table summarizes movements in the warranty accrual for the periods indicated: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) Warranty provision—beginning of period $ 4,206 $ 4,560 $ 4,124 $ 3,827 Warranties issued 135 991 435 2,533 Warranties utilized or expired (243 ) (901 ) (516 ) (1,505 ) Currency translation and other adjustments 51 9 106 (196 ) Warranty provision—end of period $ 4,149 $ 4,659 $ 4,149 $ 4,659 Capital Leases In October 2015, we entered into a capital lease agreement for certain capital equipment. The lease term is for 5 years, after which time the ownership of the equipment will transfer from the lessor to us. During the lease term, we will make twenty equal installments of principal and interest, payable quarterly. Interest on the capital lease will accrue at 1.15 percent per annum. The following table shows the future minimum lease payments due under non-cancelable capital leases at March 31, 2018 : Capital Leases (Thousands) Fiscal Year Ending: 2018 (remaining) $ 942 2019 1,784 2020 638 2021 276 Total minimum lease payments 3,640 Less amount representing interest (93 ) Present value of capitalized payments 3,547 Less: current portion (2,514 ) Long-term portion $ 1,033 Purchase Commitments We purchase components from a variety of suppliers and use contract manufacturers to provide manufacturing services for our products. During the normal course of business, in order to manage manufacturing lead times and help ensure adequate component supply, we enter into agreements with suppliers and contract manufacturers that either allow them to procure inventory based upon criteria as defined by us or establish the parameters defining our requirements. A significant portion of our reported purchase commitments arising from these agreements consist of firm, non-cancelable and unconditional commitments. We record a liability for firm, non-cancelable and unconditional purchase commitments for quantities in excess of our future demand forecasts consistent with the valuation of our excess and obsolete inventory. As of March 31, 2018 and July 1, 2017 , the liability for these purchase commitments was $7.7 million and $4.0 million , respectively, and was included in accrued expenses and other liabilities in our condensed consolidated balance sheets. Malaysian Goods and Services Tax (“GST”) In February 2016, the Malaysian tax authorities preliminarily denied our Malaysia GST refund claims representing approximately $2.5 million . These claims were made in connection with the export of finished goods from our contract manufacturing partner’s Malaysian facilities. We are currently appealing the denial of these claims, and believe that additional options may be available to us if we do not obtain a favorable resolution. Although we have taken action to minimize the impact of the GST with respect to our ongoing operations, we believe it is reasonably possible that, ultimately, we may not be able to recover some of these GST amounts. Of the $2.5 million in GST claims, we recorded $0.7 million in prepaid expenses and other current assets in our condensed consolidated balance sheet at March 31, 2018 , net of reserves and certain offsetting payments from our contract manufacturing partner. Litigation Overview In the ordinary course of business, we are involved in various legal proceedings, and we anticipate that additional actions will be brought against us in the future. The most significant of these proceedings are described below. These legal proceedings, as well as other matters, involve various aspects of our business and a variety of claims in various jurisdictions. Complex legal proceedings frequently extend for several years, and a number of the matters pending against us are at very early stages of the legal process. As a result, some pending matters have not yet progressed sufficiently through discovery and/or development of important factual information and legal issues to enable us to determine whether the proceeding is material to us or to estimate a range of possible loss, if any. Unless otherwise disclosed, we are unable to estimate the possible loss or range of loss for the legal proceedings described below. While it is not possible to accurately predict or determine the eventual outcome of these items, an adverse determination in these items currently pending could have a material adverse effect on our results of operations, financial position or cash flows. Oyster Optics Litigation On November 23, 2016, Oyster Optics LLC (“Oyster”) filed a civil suit against Cisco Systems, Inc. (“Cisco”) and British Telecommunications PLC (“BT”), in the U.S. District Court for the Eastern District of Texas, Marshall Division, Case No. 2:16-CV-01301. In the complaint, Oyster alleges that Cisco and BT infringed seven patents owned by Oyster, which patents allegedly relate to certain Cisco optical platform products, some of which may incorporate Oclaro components. Oyster subsequently dismissed its claim against BT without prejudice. In January 2017, Cisco requested that Oclaro indemnify and defend it in this litigation, pursuant to our commercial agreements with Cisco. In April 2017, Oyster served infringement contentions on Cisco. Those infringement contentions identified certain Cisco products that do implicate Oclaro components that were the subject of those commercial agreements. Accordingly, in May 2017, Oclaro and Cisco preliminarily agreed to an allocation of the responsibilities for the costs of defense associated with Oyster’s claims. However, due to the uncertainty regarding the infringement allegations that Oyster may present at trial and the resultant uncertainty regarding the number of Oclaro components that may be implicated by such infringement allegations, Oclaro and Cisco agreed to defer until the conclusion of the litigation the final determination of whether and to what extent Oclaro will indemnify Cisco for any amounts Cisco may be required to pay Oyster and Cisco’s related defense costs. On May 18, 2017, Oyster’s case against Cisco was consolidated with cases that Oyster brought against other parties. On June 1, 2017, Cisco filed a motion to transfer Oyster’s case against it to the Northern District of California, which was denied on December 8, 2017. A claim construction hearing was held on November 20, 2017, and the court issued its Claim Construction Order on December 5, 2017. Fact discovery in the consolidated cases was scheduled to close on December 22, 2017. Allegedly based on that discovery, Oyster sought to amend its infringement contentions to accuse additional Cisco products. No such amendments have been agreed to by Cisco or ordered by the Court. In its expert report regarding infringement, Oyster alleges Cisco infringes only two of the seven previously asserted patents. Oyster also included, to some extent, some of its proposed amended contentions in its expert reports. At the close of fact discovery, Oyster moved to compel Cisco to produce financial information relating to these additional Cisco products. Cisco filed a Motion to Strike Expert Opinions of Oyster’s infringement expert regarding products not identified or charted in infringement contentions in which Cisco sought to strike the infringement opinions pertaining to the disputed products. On March 12, 2018, the Court denied Oyster’s motion to compel and Oyster did not oppose Cisco’s motion to strike. Expert discovery has completed and Oyster subsequently dropped its assertion of one of the two remaining patents. The parties have filed dispositive motions and motions challenging the other party's expert qualifications which currently remain undecided. Trial proceedings are set to begin June 4, 2018 in the consolidated cases. Cisco and Oclaro filed Petitions for inter partes review of the patents that Oyster is asserting against Cisco with the U.S. Patent Office on June 20, July 27, and September 27, 2017. Oyster has filed its Preliminary Patent Owner's Response to each of the petitions. On January 23, 2018 and January 26, 2018, the Patent Office issued its Institution Decisions for two of the patents, instituting inter partes review on some of the challenged claims for each and denying institution for others. On May 3 and 4, 2018, the Patent Office modified those Institution Decisions to institute on all of the challenged claims and all of the grounds presented in the Petitions. On February 21, 2018, the Patent Office denied institution of inter partes review for one patent on all challenged grounds. On February 27 and March 5, 2018, the Patent Office issued its Institution Decisions for petitions on two of the patents, instituting inter partes review on some of the challenged claims for each, and denying institution for others. On May 7, 2018, the Patent Office modified its Institution Decision for a petition challenging claims in one of those two patents to institute on all of the challenged claims and all of the grounds presented in the Petition; the Patent Office also supplemented another of its Institution Decisions for a petition challenging claims in the other of those two patents to institute on all grounds raised in the petition. On March 28, the Patent Office issued its Institution Decisions for petitions on the remaining patent, instituting inter partes review on some grounds for all challenged claims, and on April 27, 2018, instituting on a challenged claim for the remaining ground. On November 24, 2016, Oyster also filed a civil suit against Coriant America Inc. (“Coriant”) in the U.S. District Court for the Eastern District of Texas, Marshall Division, Case No. 2:16-cv-01302. In the complaint against Coriant, Oyster alleges that Coriant has infringed the same seven patents that were asserted against Cisco. On May 18, 2017, Oyster’s case against Coriant was consolidated with cases that Oyster brought against other parties, including Cisco. As a result, the November 20, 2017 consolidated claim construction hearing and order, December 22, 2017 close of fact discovery, February 26, 2018 deadline for dispositive motions, and the June 4, 2018 date for the commencement of trial described above also apply to the litigation against Coriant. On December 21, 2017, Coriant requested that Oclaro indemnify and defend it in this litigation, pursuant to our commercial agreements with Coriant. Oclaro has refused this request for reasons including that Oyster’s claims against Coriant do not clearly implicate Oclaro products and that Coriant’s request was not timely made. Coriant has stated their disagreement with this position. As a result, Oclaro remains in discussions with Coriant regarding Coriant’s request for defense and indemnification. Oyster and Coriant informed the Court on April 12, 2018, that “all matters in controversy between the parties have been settled, in principle.” Oyster also filed a civil suit on November 24, 2016 against Ciena Corporation (“Ciena”) in the U.S. District Court for the Eastern District of Texas, Marshall Division, Case No. 2:16-CV-01300. In the complaint against Ciena, Oyster alleges that Ciena has infringed the same seven patents that were asserted against Cisco. On June 15, 2017, Ciena filed a motion to transfer Oyster’s case against it to the Northern District of California. On September 22, 2017, the Court granted Ciena’s motion. On January 4, 2018, Ciena filed a motion to stay pending inter partes review of the Oyster patents. The Court granted Ciena’s motion to stay on January 29, 2018. The case is currently stayed and the parties have been ordered to file a joint status report on June 1, 2018 reporting on the status of the inter partes review proceedings. On October 16, 2017, Ciena requested that Oclaro indemnify and defend it in this litigation, pursuant to our commercial agreements with Ciena. Oclaro refused this request for reasons including that Oyster's claims against Ciena do not clearly implicate Oclaro products and that Ciena's request was not timely made. Ciena has stated its disagreement with this position. As a result, discussions with Ciena regarding Ciena’s request for defense and indemnification have not completed.

EMPLOYEE STOCK PLANS

EMPLOYEE STOCK PLANS	9 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EMPLOYEE STOCK PLANS	EMPLOYEE STOCK PLANS Stock Incentive Plans On November 17, 2017, our stockholders approved an amendment to the Fifth Amended and Restated 2001 Long-Term Stock Incentive Plan (the "Plan"), adding 8.0 million shares of common stock to the share reserve under the Plan. As of March 31, 2018 , there were approximately 16.7 million shares of our common stock available for grant under the Plan. We generally grant stock options that vest over a two to four year service period, and restricted stock awards and restricted stock unit ("RSU") awards that vest over a one to four year service period, and in certain cases each may vest earlier based upon the achievement of specific performance-based objectives as set by our board of directors or the compensation committee of our board of directors. Performance-Based Restricted Stock Units ("PSUs") In August 2017, our board of directors approved a grant of 1.1 million PSUs to certain executive officers with an aggregate estimated grant date fair value of $9.5 million . These PSUs have service- and performance-based vesting conditions. One-third of the PSUs will vest subject to the achievement of $700.0 million of revenue over any four consecutive quarters through the end of fiscal 2020, subject to service conditions; one-third of the PSUs will vest upon the achievement of $100.0 million of free cash flow (defined as adjusted EBITDA less capital expenditures) over any four consecutive quarters through the end of fiscal 2020, subject to service conditions; and one-third of the PSUs will vest upon the achievement of $800.0 million of revenue in any one fiscal year from 2018 through 2020 and upon achievement of $100.0 million of free cash flow over any four consecutive quarters through the end of fiscal 2020, subject to service conditions. Upon reaching each performance condition, the service-based vesting condition is satisfied for that tranche as to 1/3 of the PSUs on the first anniversary of the vesting commencement date, and with respect to 1/12 of the underlying shares each subsequent quarter, such that all PSUs for that tranche are fully vested on the third anniversary of the vesting commencement date. As of March 31, 2018 , we determined that the achievement of the performance conditions associated with these PSUs was improbable. In August 2016, our board of directors approved a grant of 0.8 million PSUs to certain executive officers with an aggregate estimated grant date fair value of $4.8 million . Subject to the achievement of an aggregate of $25.0 million or more of free cash flow (defined as adjusted EBITDA less capital expenditures) over any consecutive four fiscal quarters ending on or before June 27, 2020, as determined by our board of directors, these PSUs will vest contingent upon service conditions being met through August 10, 2020. On July 25, 2017, the compensation committee of our board of directors certified that the performance condition for these PSUs was achieved. As a result, these PSUs vested with respect to 25 percent of the shares subject to the PSUs on August 10, 2017, and with respect to 6.25 percent of the underlying shares each subsequent quarter over the following three years, subject to continuous service. In August 2015, our board of directors approved a grant of 0.9 million PSUs to certain executive officers with an aggregate estimated grant date fair value of $2.5 million . Subject to the achievement of positive free cash flow (defined as adjusted EBITDA less capital expenditures) in any fiscal quarter ending prior to June 30, 2018, vesting of these PSUs is contingent upon service conditions being met through August 10, 2018. On October 29, 2015, the compensation committee of our board of directors certified that this performance condition was achieved during the first quarter of fiscal 2016. As a result, these PSUs vested with respect to 33.4 percent of the underlying shares on August 10, 2016, and will vest with respect to 8.325 percent of the underlying shares each subsequent quarter over the following two years, subject to continuous service. Restricted Stock Units In August 2017, our board of directors approved a long term incentive grant of 0.6 million RSUs to certain executive officers and 1.6 million RSUs to other employees, which vest over four years. In August 2016, our board of directors approved a long term incentive grant of 0.8 million RSUs to certain executive officers and 2.0 million RSUs to other employees, which vest over four years. Stock Incentive Plan Activity The following table summarizes the combined activity under all of our equity incentive plans for the nine months ended March 31, 2018 : Shares Available For Grant Stock Options / SARs Outstanding Weighted- Average Exercise Price Time and Performance-based Restricted Stock Awards / Units Outstanding Weighted- Average Grant Date Fair Value (Thousands) (Thousands) (Thousands) Balance at July 1, 2017 13,581 1,858 $ 7.84 5,687 $ 5.43 Increase in share reserve 8,000 — — — — Granted (5,677 ) — — 4,055 8.20 Exercised or released 26 (518 ) 4.93 (2,432 ) 5.02 Forfeited or expired 792 (179 ) 16.47 (440 ) 6.67 Balance at March 31, 2018 16,722 1,161 $ 7.80 6,870 $ 7.13 Supplemental disclosure information about our stock options and stock appreciation rights ("SARs") outstanding as of March 31, 2018 is as follows: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (Thousands) (Years) (Thousands) Options and SARs exercisable 1,138 $ 7.92 2.2 $ 3,546 Options and SARs outstanding 1,161 $ 7.80 2.3 $ 3,727 The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value, based on the closing price of our common stock of $9.56 on March 29, 2018, which would have been received by the option holders had all option holders exercised their options as of that date. There were approximately 0.6 million shares of common stock subject to in-the-money options which were exercisable as of March 31, 2018 . We settle employee stock option exercises with newly issued shares of common stock.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION We recognize stock-based compensation expense in our condensed consolidated statement of operations related to all share-based awards, including grants of stock options, based on the grant date fair value of such share-based awards. In March 2016, the FASB issued ASU No. 2016-09, Compensation: Improvements to Employee Share-Based Payment Accounting , which simplifies several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards, and classification on the statement of cash flows. This guidance is effective for us in the first quarter of fiscal 2018. Pursuant to the adoption of ASU No. 2016-09, we elected to record forfeitures when they occur. This change in accounting principle with regards to forfeitures was adopted using a modified retrospective approach. With the adoption of this guidance we recorded an adjustment of $0.3 million in our accumulated deficit and additional paid-in capital during the first quarter of fiscal 2018. The amounts included in cost of revenues and operating expenses for stock-based compensation were as follows: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) Stock-based compensation by category of expense: Cost of revenues $ 763 $ 630 $ 1,956 $ 1,381 Research and development 857 590 2,582 1,573 Selling, general and administrative 2,297 1,670 6,517 4,968 $ 3,917 $ 2,890 $ 11,055 $ 7,922 Stock-based compensation by type of award: Stock options $ 17 $ 32 $ 79 $ 102 Restricted stock awards 3,947 2,747 11,377 7,950 Inventory adjustment to cost of revenues (47 ) 111 (401 ) (130 ) $ 3,917 $ 2,890 $ 11,055 $ 7,922 Included in stock-based compensation for the three and nine months ended March 31, 2018 is approximately $0.5 million and $1.8 million , respectively, in stock-based compensation cost related to the issuance of PSUs granted in August 2015 and August 2016. Included in stock-based compensation for the three and nine months ended April 1, 2017 is approximately $0.7 million and $1.9 million , respectively, in stock-based compensation cost related to the issuance of PSUs granted in August 2015 and August 2016. We recorded no stock-based compensation expense related to the issuance of PSUs granted in August 2017 as we determined that the achievement of the performance conditions associated with these PSUs was not probable as of March 31, 2018 . The amount of stock-based compensation expense recognized in any one period related to PSUs can vary based on the achievement or anticipated achievement of the performance conditions. If the performance conditions are not met or not expected to be met, no compensation cost would be recognized on the shares underlying the PSUs, and any previously recognized compensation expense related to those PSUs would be reversed. During the three months ended March 31, 2018 , we capitalized minimal stock-based compensation into inventory. During the nine months ended March 31, 2018 , we capitalized $0.4 million of stock-based compensation into inventory. During the three months ended April 1, 2017 , we released $0.1 million of stock-based compensation that was previously capitalized into inventory. During the nine months ended April 1, 2017 , we capitalized $0.1 million of stock-based compensation into inventory. As of March 31, 2018 and July 1, 2017 , we had capitalized a total of $1.0 million and $0.6 million of stock-based compensation, respectively, into inventory. As of March 31, 2018 , we had less than $0.1 million in unrecognized stock-based compensation expense related to unvested stock options, that will be recognized over a weighted-average period of 0.5 years , and $32.6 million in unrecognized stock-based compensation expense related to unvested time-based restricted stock awards, net of estimated forfeitures, that will be recognized over a weighted-average period of 2.3 years .

INCOME TAXES

INCOME TAXES	9 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The income tax provision of $0.4 million and $9.8 million for the three and nine months ended March 31, 2018 , respectively, relates primarily to our foreign operations. The income tax provision was $0.6 million and $1.1 million for the three and nine months ended April 1, 2017 , respectively. The total amount of our unrecognized tax benefits as of March 31, 2018 and July 1, 2017 , were approximately $2.9 million and $3.5 million , respectively. As of March 31, 2018 , we had $2.3 million of unrecognized tax benefits that, if recognized, would affect our effective tax rate. While it is often difficult to predict the final outcome of any particular uncertain tax position, we believe that unrecognized tax benefits could decrease by approximately $0.6 million in the next twelve months. On December 22, 2017, the TCJA was signed into law. Among other things, the TCJA permanently lowers the corporate federal income tax rate to 21 percent from the existing maximum rate of 35 percent , effective for tax years including or commencing January 1, 2018. Since we operate on a 52/53 week year ending on the Saturday closest to June 30, the lower corporate income tax rate will be phased in, resulting in a U.S. statutory federal rate of approximately 28 percent for our fiscal year ending June 30, 2018, and 21 percent for subsequent fiscal years. As a result of the reduction of the corporate federal income tax rate to 21 percent , U.S. GAAP requires companies to re-value their deferred tax assets and deferred tax liabilities as of the date of enactment, with the resulting tax effects accounted for in the reporting period of enactment. We have concluded this will cause our net deferred taxes to be re-measured at the new lower tax rate. The estimated rate change impact to our net deferred tax assets is a reduction of $31.6 million . We maintain a full valuation allowance on our U.S. net deferred tax assets. Deferred tax asset re-measurement (tax expense) will be offset by a net decrease in valuation allowance, resulting in no impact on our income tax for the period ending March 31, 2018. We have not completed the revaluation calculation and will disclose any adjustments in our fiscal year-end financial statements. Additionally, the TCJA introduces new international tax provisions that will be effective for our fiscal year 2019, including (i) a new provision designed to currently tax the global low-taxed income of our foreign subsidiaries known as GILTI, together with a deduction of up to 50 percent and a partial credit for foreign taxes incurred by the foreign subsidiaries; (ii) limitations on the deductibility of certain base eroding payments to foreign entities; and (iii) limitations on the use of foreign tax credits to reduce U.S. income tax liability. While each of these provisions may have an impact on our tax expense for fiscal year 2019 and future periods, we expect the tax on low-taxed income of foreign subsidiaries to have the most significant impact. Because of the complexity of the new tax on low-taxed income of foreign subsidiaries and uncertainties regarding its application in certain circumstances, we are continuing to evaluate this provision of the TCJA and its impact on our determination of the realizability of our deferred tax assets. We elected to utilize the reporting provisions of SAB 118, as we did not have the necessary information available, prepared or analyzed for certain future taxable income tax effects of the TCJA in order to determine a reasonable estimate to be included as provisional amounts. We will not adjust our current or deferred taxes for those tax effects of the TCJA, for which we are unable to reasonably estimate, until a reasonable estimate can be determined.

NET INCOME PER SHARE

NET INCOME PER SHARE	9 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE Basic net income per share is computed using only the weighted-average number of shares of common stock outstanding for the applicable period, while diluted net income per share is computed assuming conversion of all potentially dilutive securities, such as stock options and unvested restricted stock units and awards during such period. The following table presents the calculation of basic and diluted net income per share: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands, except per share amounts) Net income $ 10,807 $ 38,214 $ 56,033 $ 71,832 Weighted-average shares - Basic 169,602 166,808 168,910 155,037 Effect of dilutive potential common shares from: Stock options and stock appreciation rights 336 651 409 712 Restricted stock units and awards 1,323 2,382 2,019 2,484 Convertible notes — — — 5,004 Weighted-average shares - Diluted 171,261 169,841 171,338 163,237 Basic net income per share $ 0.06 $ 0.23 $ 0.33 $ 0.46 Diluted net income per share $ 0.06 $ 0.22 $ 0.33 $ 0.44 For the three and nine months ended March 31, 2018 , we excluded 0.9 million and 0.7 million shares, respectively, underlying outstanding stock options, stock appreciation rights and unvested restricted stock awards from the calculation of diluted net income per share because their effect would have been anti-dilutive. For the three and nine months ended April 1, 2017 , we excluded 0.6 million and 0.8 million shares, respectively, underlying outstanding stock options, stock appreciation rights and unvested restricted stock awards from the calculation of diluted net income per share because their effect would have been anti-dilutive.

GEOGRAPHIC INFORMATION, PRODUCT

GEOGRAPHIC INFORMATION, PRODUCT GROUPS AND CUSTOMER CONCENTRATION INFORMATION	9 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION, PRODUCT GROUPS AND CUSTOMER CONCENTRATION INFORMATION	GEOGRAPHIC INFORMATION, PRODUCT GROUPS AND CUSTOMER CONCENTRATION INFORMATION Geographic Information The following table shows revenues by geographic area based on the delivery locations of our products: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) Asia-Pacific: China $ 40,281 $ 57,882 $ 133,146 $ 180,551 Thailand 15,559 24,722 45,572 78,852 Malaysia 692 4,000 4,112 15,703 Other Asia-Pacific 5,353 6,329 14,789 12,693 Total Asia-Pacific $ 61,885 $ 92,933 $ 197,619 $ 287,799 Americas: United States 9,604 22,832 66,807 54,574 Mexico 22,399 8,930 73,530 26,290 Other Americas 1,934 14,115 10,403 22,327 Total Americas $ 33,937 $ 45,877 $ 150,740 $ 103,191 EMEA: Italy 12,466 7,577 31,703 23,601 Germany 7,790 5,116 15,181 11,493 Other EMEA 9,464 6,836 21,592 18,182 Total EMEA $ 29,720 $ 19,529 $ 68,476 $ 53,276 Japan $ 1,751 $ 3,843 5,391 7,322 Total revenues $ 127,293 $ 162,182 $ 422,226 $ 451,588 Product Groups The following table sets forth revenues by product group: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) 100 Gb/s + transmission modules $ 95,663 $ 125,818 $ 326,675 $ 337,424 40 Gb/s and lower transmission modules 31,630 36,364 95,551 114,164 $ 127,293 $ 162,182 $ 422,226 $ 451,588 Significant Customers and Concentration of Credit Risk For the three months ended March 31, 2018 , five customers accounted for 10 percent or more of our revenues, representing approximately 18 percent , 15 percent , 13 percent , 10 percent and 10 percent of our revenues, respectively. For the nine months ended March 31, 2018 , five customers accounted for 10 percent or more of our revenues, representing approximately 16 percent , 13 percent , 12 percent , 12 percent and 11 percent of our revenues, respectively. For the three months ended April 1, 2017 , four customers accounted for 10 percent or more of our revenues, representing approximately 18 percent , 17 percent , 12 percent and 12 percent of our revenues, respectively. For the nine months ended April 1, 2017 , four customers accounted for 10 percent of more of our revenues, representing 19 percent , 18 percent , 16 percent and 11 percent of our revenues, respectively. As of March 31, 2018 , four customers accounted for 10 percent or more of our accounts receivable, representing approximately 19 percent , 12 percent , 12 percent and 10 percent of our accounts receivable, respectively. As of July 1, 2017 , one customer accounted for 10 percent or more of our accounts receivable, representing approximately 20 percent .

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT On April 16, 2018, the U.S. Department of Commerce ("DOC") changed and reactivated its previously suspended denial order and suspended the export privileges of Zhongxing Telecommunications Equipment Corporation ("ZTE Corporation") and its subsidiary, ZTE Kangxun Telecommunications Ltd. ("ZTE Kangxun") (collectively, "ZTE") after determining that ZTE made false statements to the DOC related to senior employee disciplinary actions ("Denial Order"). ZTE is one of our significant customers. Under t he Denial Order, ZTE is prohibited from participating in any way in any transaction subject to the U.S. Export Administration Regulations ("EAR"), until March 13, 2025. The Denial Order also restricts U.S. companies from exporting or re-exporting to or on behalf of ZTE any item subject to the EAR or engaging in any transaction to service any item subject to the EAR that has been or will be exported from the U.S. and which is owned, possessed or controlled by ZTE. Following the re-imposition of export sanctions on ZTE, we have ceased shipment of products to ZTE. As of March 31, 2018, we have an accounts receivable balance of $13.4 million with ZTE, and our balance as of May 8, 2018 is $8.8 million , which we believe to be collectible. During the three and nine months ended March 31, 2018, we recorded a $3.1 million charge related to the write-down of on-hand inventory that was designated for future products to be sold to ZTE, which we may no longer be able to use or re-allocate to other customers.

BASIS OF PREPARATION (Policies)

BASIS OF PREPARATION (Policies)	9 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Oclaro, Inc., a Delaware corporation, is sometimes referred to in this Quarterly Report on Form 10-Q as “Oclaro,” “we,” “us” or “our.” The accompanying unaudited condensed consolidated financial statements of Oclaro as of March 31, 2018 and for the three and nine months ended March 31, 2018 and April 1, 2017 have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Article 10 of Securities and Exchange Commission ("SEC") Regulation S-X, and include the accounts of Oclaro and all of our subsidiaries. Accordingly, they do not include all of the information and footnotes required by such accounting principles for annual financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of our consolidated financial position and results of operations have been included. The condensed consolidated results of operations for the three and nine months ended March 31, 2018 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending June 30, 2018 . The condensed consolidated balance sheet as of July 1, 2017 has been derived from our audited financial statements as of such date, but does not include all disclosures required by U.S. GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with our audited financial statements included in our Annual Report on Form 10-K for the year ended July 1, 2017 (" 2017 Form 10-K").
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reported periods. Examples of significant estimates and assumptions made by management involve the fair value of other intangible assets and long-lived assets, valuation allowances for deferred tax assets, the fair value of stock-based compensation, the fair value of pension liabilities, estimates for allowances for doubtful accounts and valuation of excess and obsolete inventories. These judgments can be subjective and complex and consequently actual results could differ materially from those estimates and assumptions. Descriptions of the key estimates and assumptions are included in our 2017 Form 10-K.
Fiscal Years	Fiscal Years We operate on a 52/53 week year ending on the Saturday closest to June 30. Our fiscal year ending June 30, 2018 will be a 52 week year, with the quarter ended March 31, 2018 being a 13 week quarterly period. Our fiscal year ended July 1, 2017 was a 52 week year, with the quarter ended April 1, 2017 being a 13 week quarterly period.
Reclassifications	Reclassifications For presentation purposes, we have reclassified certain prior period amounts to conform to the current period financial statement presentation, including an adjustment relating to an immaterial error of approximately $8.2 million , increasing cash flows from operations associated with changes in accounts payable and increasing cash flows used in investing activities associated with purchases of property and equipment, in our condensed consolidated statement of cash flows for the nine months ended April 1, 2017 . We determined that the adjustments did not have a material impact to our prior period consolidated financial statements.
Functional Currency	Functional Currency Effective October 1, 2017, the functional currency for our worldwide operations is the U.S. dollar. Prior to October 1, 2017, the functional currency for each of our foreign subsidiaries was the respective local currency for that subsidiary. The change in our functional currency is a result of significant changes in economic facts and circumstances, including (i) a re-organization of our operating environment, which includes consolidating and integrating our sales, supply chain and manufacturing organizations; (ii) a transition to centrally negotiating worldwide supplier contracts and capital expenditures in U.S. dollars; and (iii) a shift to recording all intercompany transactions in U.S. dollars. Translation adjustments reported prior to October 1, 2017, will remain as a component of accumulated other comprehensive income in our condensed consolidated balance sheet. The translated values for any non-monetary assets and liabilities as of October 1, 2017 become the new accounting basis for those assets. Effective October 1, 2017, monetary assets and liabilities denominated in currencies other than the U.S. dollar functional currency are re-measured each reporting period into U.S. dollars, with the resulting exchange gains and losses reported in gain (loss) on foreign currency transactions, net within our condensed consolidated statement of operations.
U.S. Tax Reform	U.S. Tax Reform On December 22, 2017, H.R.1, commonly referred to as the Tax Cuts and Jobs Act ("TCJA"), was signed into law. Among other things, the TCJA permanently lowers the corporate federal income tax rate to 21 percent from the existing maximum rate of 35 percent , effective for tax years including or commencing January 1, 2018. Since we operate on a 52/53 week year ending on the Saturday closest to June 30, the lower corporate income tax rate will be phased in, resulting in a U.S. statutory federal rate of approximately 28 percent for our fiscal year ending June 30, 2018, and 21 percent for subsequent fiscal years. As a result of the reduction of the corporate federal income tax rate to 21 percent , U.S. GAAP requires companies to re-value their deferred tax assets and deferred tax liabilities as of the date of enactment, with the resulting tax effects accounted for in the reporting period of enactment. We have concluded this will cause our net deferred taxes to be re-measured at the new lower tax rate. The estimated rate change impact to our net deferred tax assets is a reduction of $31.6 million . We maintain a full valuation allowance on our U.S. net deferred tax assets. Deferred tax asset re-measurement (tax expense) will be offset by a net decrease in valuation allowance, resulting in no impact on our income tax for the period ending March 31, 2018. We have not completed the revaluation calculation and will disclose any adjustments in our fiscal year-end financial statements. Additionally, TCJA introduces new international tax provisions that will be effective for our fiscal year 2019, including (i) a new provision designed to currently tax the global low-taxed income of our foreign subsidiaries known as GILTI, together with a deduction of up to 50 percent and a partial credit for foreign taxes incurred by the foreign subsidiaries; (ii) limitations on the deductibility of certain base eroding payments to foreign entities; and (iii) limitations on the use of foreign tax credits to reduce U.S. income tax liability. While each of these provisions may have an impact on our tax expense for fiscal year 2019 and future periods, we expect the tax on low-taxed income of foreign subsidiaries to have the most significant impact. Because of the complexity of the new tax on low-taxed income of foreign subsidiaries and uncertainties regarding its application in certain circumstances, we are continuing to evaluate this provision of the TCJA and its impact on our determination of the realizability of our deferred tax assets. We elected to utilize the reporting provisions of the SEC's Staff Accounting Bulletin 118 ("SAB 118"), as we did not have the necessary information available, prepared or analyzed for certain future taxable income tax effects of the TCJA in order to determine a reasonable estimate to be included as provisional amounts. We will not adjust our current or deferred taxes for those tax effects of the TCJA, for which we are unable to reasonably estimate, until a reasonable estimate can be determined.
New Accounting Standards	RECENT ACCOUNTING STANDARDS In March 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 , to incorporate changes due to the TCJA being signed into law on December 22, 2017. This guidance is effective for us upon issuance. See Note 1. Basis of Preparation and Note 10. Income Taxes for the impact of this guidance on our financial statements and footnote disclosures. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the TCJA. The guidance will be effective for us in the first quarter of fiscal 2020, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation , to provide clarity and reduce both (i) diversity in practice and (ii) cost and complexity associated with changes to the terms or conditions of a share-based payment award. The guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , changing the presentation of net periodic benefit cost in the income statement. The guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations: Clarifying the Definition of a Business , providing guidance for evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill and consolidation. The guidance will be effective for us in the first quarter of fiscal 2019. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows: Restricted Cash to standardize the presentation of transfers between cash and restricted cash in the cash flow statement. Amounts described as restricted cash should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory , to reduce the complexity related to the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. This guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments to reduce the diversity in practice related to the presentation and classification of various cash flow scenarios. This guidance will be effective for us in the first quarter of fiscal 2019, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In May 2014 and May 2016, the FASB issued ASU 2014-09, Revenue from Contracts with Customers and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients , respectively. These updates clarify the principles for recognizing revenue and develop a common revenue standard for GAAP and International Financial Reporting Standards. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The guidance permits two methods of adoption, the full retrospective method applying the standard to each prior reporting period presented, or the modified retrospective method with a cumulative effect of initially applying the guidance recognized at the date of initial application. We currently plan on adopting this guidance on July 1, 2018, the start to our first quarter of fiscal 2019, using the modified retrospective method with a cumulative catch up adjustment and providing additional disclosures comparing results to previous rules. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases , which requires recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This guidance will be effective for us in the first quarter of fiscal 2020, with early adoption permitted. We are currently evaluating the likely impact the implementation of this standard will have on our financial statements and footnote disclosures.

BALANCE SHEET DETAILS (Tables)

BALANCE SHEET DETAILS (Tables)	9 Months Ended
	Mar. 31, 2018
Balance Sheet Details [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides details regarding our cash and cash equivalents at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Cash and cash equivalents: Cash-in-bank $ 91,429 $ 79,259 Money market funds 64,573 99,037 Commercial paper 23,967 22,981 Corporate bonds — 2,012 U.S. agency securities — 15,981 $ 179,969 $ 219,270
Schedule of Short-term Investments	The following table provides details regarding our short-term investments at the dates indicated: March 31, 2018 July 1, 2017 Short-term investments (Thousands) Commercial paper $ 58,461 $ 23,459 U.S. Treasury securities 55,833 4,006 Corporate bonds 10,139 10,094 $ 124,433 $ 37,559
Schedule of Inventories	The following table provides details regarding our inventories at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Inventories: Raw materials $ 22,404 $ 32,421 Work-in-process 58,212 40,171 Finished goods 23,311 28,476 $ 103,927 $ 101,068
Schedule of Property and Equipment, Net	The following table provides details regarding our property and equipment, net at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Property and equipment, net: Buildings and improvements $ 11,601 $ 10,222 Plant and machinery 135,347 99,779 Fixtures, fittings and equipment 3,499 3,225 Computer equipment 24,472 15,901 174,919 129,127 Less: Accumulated depreciation (36,920 ) (14,794 ) $ 137,999 $ 114,333
Summary of Other Intangible Assets	The following table summarizes the activity related to our other intangible assets for the nine months ended March 31, 2018 : Core and Development Customer Patent Other Accumulated Amortization Total (Thousands) Balance at July 1, 2017 $ 6,249 $ 4,496 $ 2,402 $ 915 $ 3,338 $ (16,701 ) $ 699 Amortization — — — — — (460 ) (460 ) Other adjustments — 2 — — — — 2 Balance at March 31, 2018 $ 6,249 $ 4,498 $ 2,402 $ 915 $ 3,338 $ (17,161 ) $ 241
Schedule of Accrued Expenses and Other Liabilities	The following table presents details regarding our accrued expenses and other liabilities at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Accrued expenses and other liabilities: Trade payables $ 2,400 $ 7,805 Compensation and benefits related accruals 13,156 13,837 Warranty accrual 4,149 4,124 Purchase commitments in excess of future demand, current 7,662 4,009 Other accruals 14,792 12,724 $ 42,159 $ 42,499
Components of Accumulated Other Comprehensive Income	The following table presents the components of accumulated other comprehensive income at the dates indicated: March 31, 2018 July 1, 2017 (Thousands) Accumulated other comprehensive income: Currency translation adjustments $ 42,626 $ 41,131 Unrealized loss on marketable securities (35 ) (8 ) Japan defined benefit plan (150 ) (150 ) $ 42,441 $ 40,973

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are shown in the table below by their corresponding balance sheet caption and consisted of the following types of instruments at March 31, 2018 and July 1, 2017 : Fair Value Measurement at March 31, 2018 Using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total (Thousands) Assets: Cash and cash equivalents: (1) Money market funds $ 64,573 $ — $ — $ 64,573 Commercial paper — 23,967 — 23,967 Short-term investments: Commercial paper — 58,461 — 58,461 U.S. Treasury securities — 55,833 — 55,833 Corporate bonds — 10,139 — 10,139 Total assets measured at fair value $ 64,573 $ 148,400 $ — $ 212,973 (1) Excludes $91.4 million in cash held in our bank accounts at March 31, 2018 . Fair Value Measurement at July 1, 2017 Using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total (Thousands) Assets: Cash and cash equivalents: (1) Money market funds $ 99,037 $ — $ — $ 99,037 Commercial paper — 22,981 — 22,981 U.S. agency securities — 15,981 — 15,981 Corporate bonds — 2,012 — 2,012 Restricted cash: Money market funds 712 — — 712 Short-term investments: Commercial paper — 23,459 — 23,459 Corporate bonds — 10,094 — 10,094 U.S. Treasury securities — 4,006 — 4,006 Total assets measured at fair value $ 99,749 $ 78,533 $ — $ 178,282 (1) Excludes $79.3 million in cash held in our bank accounts at July 1, 2017 .

POST-RETIREMENT BENEFITS (Table

POST-RETIREMENT BENEFITS (Tables)	9 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Schedule of Net Periodic Pension Costs	Net periodic pension costs for the Japan Plan included the following: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) Service cost $ 163 $ 172 $ 477 $ 480 Interest cost 5 1 15 3 Net periodic pension costs $ 168 $ 173 $ 492 $ 483

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Movements in Warranty Accrual for Period	The following table summarizes movements in the warranty accrual for the periods indicated: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) Warranty provision—beginning of period $ 4,206 $ 4,560 $ 4,124 $ 3,827 Warranties issued 135 991 435 2,533 Warranties utilized or expired (243 ) (901 ) (516 ) (1,505 ) Currency translation and other adjustments 51 9 106 (196 ) Warranty provision—end of period $ 4,149 $ 4,659 $ 4,149 $ 4,659
Summary of Future Minimum Lease Payments Due under Non-cancelable Capital Leases	The following table shows the future minimum lease payments due under non-cancelable capital leases at March 31, 2018 : Capital Leases (Thousands) Fiscal Year Ending: 2018 (remaining) $ 942 2019 1,784 2020 638 2021 276 Total minimum lease payments 3,640 Less amount representing interest (93 ) Present value of capitalized payments 3,547 Less: current portion (2,514 ) Long-term portion $ 1,033

EMPLOYEE STOCK PLANS (Tables)

EMPLOYEE STOCK PLANS (Tables)	9 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Combined Activity Under All of Our Equity Incentive Plans	The following table summarizes the combined activity under all of our equity incentive plans for the nine months ended March 31, 2018 : Shares Available For Grant Stock Options / SARs Outstanding Weighted- Average Exercise Price Time and Performance-based Restricted Stock Awards / Units Outstanding Weighted- Average Grant Date Fair Value (Thousands) (Thousands) (Thousands) Balance at July 1, 2017 13,581 1,858 $ 7.84 5,687 $ 5.43 Increase in share reserve 8,000 — — — — Granted (5,677 ) — — 4,055 8.20 Exercised or released 26 (518 ) 4.93 (2,432 ) 5.02 Forfeited or expired 792 (179 ) 16.47 (440 ) 6.67 Balance at March 31, 2018 16,722 1,161 $ 7.80 6,870 $ 7.13
Supplemental Disclosure Information About Stock Options and SAR's Outstanding	Supplemental disclosure information about our stock options and stock appreciation rights ("SARs") outstanding as of March 31, 2018 is as follows: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (Thousands) (Years) (Thousands) Options and SARs exercisable 1,138 $ 7.92 2.2 $ 3,546 Options and SARs outstanding 1,161 $ 7.80 2.3 $ 3,727

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Amounts Included in Cost of Revenues and Operating Expenses for Stock-Based Compensation	The amounts included in cost of revenues and operating expenses for stock-based compensation were as follows: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) Stock-based compensation by category of expense: Cost of revenues $ 763 $ 630 $ 1,956 $ 1,381 Research and development 857 590 2,582 1,573 Selling, general and administrative 2,297 1,670 6,517 4,968 $ 3,917 $ 2,890 $ 11,055 $ 7,922 Stock-based compensation by type of award: Stock options $ 17 $ 32 $ 79 $ 102 Restricted stock awards 3,947 2,747 11,377 7,950 Inventory adjustment to cost of revenues (47 ) 111 (401 ) (130 ) $ 3,917 $ 2,890 $ 11,055 $ 7,922

NET INCOME PER SHARE Net Income

NET INCOME PER SHARE Net Income Per Share (Tables)	9 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table presents the calculation of basic and diluted net income per share: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands, except per share amounts) Net income $ 10,807 $ 38,214 $ 56,033 $ 71,832 Weighted-average shares - Basic 169,602 166,808 168,910 155,037 Effect of dilutive potential common shares from: Stock options and stock appreciation rights 336 651 409 712 Restricted stock units and awards 1,323 2,382 2,019 2,484 Convertible notes — — — 5,004 Weighted-average shares - Diluted 171,261 169,841 171,338 163,237 Basic net income per share $ 0.06 $ 0.23 $ 0.33 $ 0.46 Diluted net income per share $ 0.06 $ 0.22 $ 0.33 $ 0.44

GEOGRAPHIC INFORMATION, PRODU28

GEOGRAPHIC INFORMATION, PRODUCT GROUPS AND CUSTOMER CONCENTRATION INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Revenues by Geographic Area	The following table shows revenues by geographic area based on the delivery locations of our products: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) Asia-Pacific: China $ 40,281 $ 57,882 $ 133,146 $ 180,551 Thailand 15,559 24,722 45,572 78,852 Malaysia 692 4,000 4,112 15,703 Other Asia-Pacific 5,353 6,329 14,789 12,693 Total Asia-Pacific $ 61,885 $ 92,933 $ 197,619 $ 287,799 Americas: United States 9,604 22,832 66,807 54,574 Mexico 22,399 8,930 73,530 26,290 Other Americas 1,934 14,115 10,403 22,327 Total Americas $ 33,937 $ 45,877 $ 150,740 $ 103,191 EMEA: Italy 12,466 7,577 31,703 23,601 Germany 7,790 5,116 15,181 11,493 Other EMEA 9,464 6,836 21,592 18,182 Total EMEA $ 29,720 $ 19,529 $ 68,476 $ 53,276 Japan $ 1,751 $ 3,843 5,391 7,322 Total revenues $ 127,293 $ 162,182 $ 422,226 $ 451,588
Revenues by Product Group	The following table sets forth revenues by product group: Three Months Ended Nine Months Ended March 31, 2018 April 1, 2017 March 31, 2018 April 1, 2017 (Thousands) 100 Gb/s + transmission modules $ 95,663 $ 125,818 $ 326,675 $ 337,424 40 Gb/s and lower transmission modules 31,630 36,364 95,551 114,164 $ 127,293 $ 162,182 $ 422,226 $ 451,588

BASIS OF PREPARATION - Merger (

BASIS OF PREPARATION - Merger (Details) $ / shares in Units, $ in Thousands	Mar. 11, 2018USD ($)d$ / shares	Mar. 31, 2018USD ($)$ / shares	Apr. 01, 2017USD ($)	Mar. 31, 2018USD ($)$ / shares	Apr. 01, 2017USD ($)	Jul. 01, 2017$ / shares
Business Combination, Separately Recognized Transactions [Line Items]
Cash consideration paid per cancelled share of Oclaro stock (in USD per share)	$ 5.60
Common stock, par value (in usd per share)		$ 0.01		$ 0.01		$ 0.01
Increase in cash consideration per share included in Exchange ratio if threshold shares attained (in USD per share)	$ 68.975
Trading Days Included in Average Closing Price | d	10
Amount payable if Oclaro terminates the Merger Agreement | $	$ 63,000
Amount receivable if Lumentum terminates the Merger Agreement | $	$ 80,000
Restructuring, acquisition and related (income) expense, net | $		$ 3,084	$ (301)	$ 3,084	$ 92
Lumentum
Business Combination, Separately Recognized Transactions [Line Items]
Conversion ratio of new shares to Company shares	0.0636
Common stock, par value (in usd per share)	$ 0.001
Merger consideration shares as percent of total pre-merger shares that would trigger an increase of the purchase price per share (percent)	19.90%

BASIS OF PREPARATION - Reclassi

BASIS OF PREPARATION - Reclassifications (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Net cash provided by operating activities	$ 95,220	$ 71,686
Net cash used in financing activities	$ (1,352)	134,112
Reclassification
Net cash provided by operating activities		8,200
Net cash used in financing activities		$ (8,200)

BASIS OF PREPARATION - Tax Refo

BASIS OF PREPARATION - Tax Reform (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Mar. 31, 2018	Jun. 30, 2018
Investments, Owned, Federal Income Tax Note [Line Items]
Impact of rate change on gross deferred tax assets	$ (31.6)
Forecast
Investments, Owned, Federal Income Tax Note [Line Items]
Corporate Federal income tax effective rate (percent)		28.00%

BALANCE SHEET DETAILS - Schedul

BALANCE SHEET DETAILS - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jul. 01, 2017	Apr. 01, 2017	Jul. 02, 2016
Cash and cash equivalents:
Cash and cash equivalents	$ 179,969	$ 219,270	$ 214,063	$ 95,929
Cash-in-bank
Cash and cash equivalents:
Cash and cash equivalents	91,429	79,259
Money market funds
Cash and cash equivalents:
Cash and cash equivalents	64,573	99,037
Commercial paper
Cash and cash equivalents:
Cash and cash equivalents	23,967	22,981
Corporate bonds
Cash and cash equivalents:
Cash and cash equivalents	0	2,012
U.S. agency securities
Cash and cash equivalents:
Cash and cash equivalents	$ 0	$ 15,981

BALANCE SHEET DETAILS - Sched33

BALANCE SHEET DETAILS - Schedule of Short-term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jul. 01, 2017
Investment [Line Items]
Short-term investments	$ 124,433	$ 37,559
Commercial paper
Investment [Line Items]
Short-term investments	58,461	23,459
US Treasury securities
Investment [Line Items]
Short-term investments	55,833	4,006
Corporate bonds
Investment [Line Items]
Short-term investments	$ 10,139	$ 10,094

BALANCE SHEET DETAILS - Sched34

BALANCE SHEET DETAILS - Schedule of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jul. 01, 2017
Inventories:
Raw materials	$ 22,404	$ 32,421
Work-in-process	58,212	40,171
Finished goods	23,311	28,476
Total Inventories	$ 103,927	$ 101,068

BALANCE SHEET DETAILS - Sched35

BALANCE SHEET DETAILS - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jul. 01, 2017
Property and equipment, net:
Buildings and improvements	$ 11,601	$ 10,222
Plant and machinery	135,347	99,779
Fixtures, fittings and equipment	3,499	3,225
Computer equipment	24,472	15,901
Property and equipment, gross	174,919	129,127
Less: Accumulated depreciation	(36,920)	(14,794)
Total Property and equipment, net	$ 137,999	$ 114,333

BALANCE SHEET DETAILS - Summary

BALANCE SHEET DETAILS - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Other Intangible Assets, Gross:
Other adjustments			$ 2
Other Intangible Assets, Accumulated Amortization:
Beginning balance, Accumulated amortization			(16,701)
Amortization	$ (154)	$ (150)	(460)	$ (635)
Ending balance, Accumulated amortization	(17,161)		(17,161)
Other Intangible Assets, Net:
Beginning balance			699
Amortization	(154)	$ (150)	(460)	$ (635)
Beginning balance	241		241
Core and Current Technology
Other Intangible Assets, Gross:
Beginning balance			6,249
Other adjustments			0
Ending balance	6,249		6,249
Development and Supply Agreements
Other Intangible Assets, Gross:
Beginning balance			4,496
Other adjustments			2
Ending balance	4,498		4,498
Customer Relationships
Other Intangible Assets, Gross:
Beginning balance			2,402
Other adjustments			0
Ending balance	2,402		2,402
Patent Portfolio
Other Intangible Assets, Gross:
Beginning balance			915
Other adjustments			0
Ending balance	915		915
Other Intangibles
Other Intangible Assets, Gross:
Beginning balance			3,338
Other adjustments			0
Ending balance	$ 3,338		$ 3,338

BALANCE SHEET DETAILS - Sched37

BALANCE SHEET DETAILS - Schedule of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jul. 01, 2017
Accrued expenses and other liabilities:
Trade payables	$ 2,400	$ 7,805
Compensation and benefits related accruals	13,156	13,837
Warranty accrual	4,149	4,124
Purchase commitments in excess of future demand, current	7,662	4,009
Other accruals	14,792	12,724
Total Accrued expenses and other liabilities	$ 42,159	$ 42,499

BALANCE SHEET DETAILS - Compone

BALANCE SHEET DETAILS - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jul. 01, 2017
Accumulated other comprehensive income:
Currency translation adjustments	$ 42,626	$ 41,131
Unrealized loss on marketable securities	(35)	(8)
Japan defined benefit plan	(150)	(150)
Accumulated other comprehensive income	$ 42,441	$ 40,973

BALANCE SHEET DETAILS - Additio

BALANCE SHEET DETAILS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Mar. 31, 2018
Balance Sheet Details [Abstract]
Assets under capital lease	$ 3.7	$ 3.5
Capitalized computer software costs	$ 14.4
Expected amortization of intangible assets in fiscal year 2018		0.2
Expected amortization of intangible assets in fiscal year 2019		$ 0.1

FAIR VALUE - Assets and Liabili

FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jul. 01, 2017	Apr. 01, 2017	Jul. 02, 2016
Short-term Investments [Abstract]
Cash held in bank accounts, excluded	$ 179,969	$ 219,270	$ 214,063	$ 95,929
Money market funds
Short-term Investments [Abstract]
Cash held in bank accounts, excluded	64,573	99,037
Commercial paper
Short-term Investments [Abstract]
Cash held in bank accounts, excluded	23,967	22,981
Cash-in-bank
Short-term Investments [Abstract]
Cash held in bank accounts, excluded	91,429	79,259
Fair Value, Measurements, Recurring
Short-term Investments [Abstract]
Total assets measured at fair value	212,973	178,282
Fair Value, Measurements, Recurring | Commercial paper
Short-term Investments [Abstract]
Short-term investments	58,461	23,459
Fair Value, Measurements, Recurring | US Treasury securities
Short-term Investments [Abstract]
Short-term investments	55,833	4,006
Fair Value, Measurements, Recurring | Corporate bonds
Short-term Investments [Abstract]
Short-term investments	10,139	10,094
Fair Value, Measurements, Recurring | Money market funds
Cash and cash equivalents:
Cash and cash equivalents	64,573	99,037
Restricted cash:
Restricted cash		712
Fair Value, Measurements, Recurring | Commercial paper
Cash and cash equivalents:
Cash and cash equivalents	23,967	22,981
Fair Value, Measurements, Recurring | U.S. agency securities
Cash and cash equivalents:
Cash and cash equivalents		15,981
Fair Value, Measurements, Recurring | Corporate bonds
Cash and cash equivalents:
Cash and cash equivalents		2,012
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Short-term Investments [Abstract]
Total assets measured at fair value	64,573	99,749
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds
Cash and cash equivalents:
Cash and cash equivalents	64,573	99,037
Restricted cash:
Restricted cash		712
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Short-term Investments [Abstract]
Total assets measured at fair value	148,400	78,533
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commercial paper
Short-term Investments [Abstract]
Short-term investments	58,461	23,459
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | US Treasury securities
Short-term Investments [Abstract]
Short-term investments	55,833	4,006
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Corporate bonds
Short-term Investments [Abstract]
Short-term investments	10,139	10,094
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commercial paper
Cash and cash equivalents:
Cash and cash equivalents	$ 23,967	22,981
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. agency securities
Cash and cash equivalents:
Cash and cash equivalents		15,981
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Corporate bonds
Cash and cash equivalents:
Cash and cash equivalents		$ 2,012

CONVERTIBLE NOTES - 6.00% Conve

CONVERTIBLE NOTES - 6.00% Convertible Senior Notes (Details) - USD ($)	Feb. 19, 2015	Aug. 31, 2016	Apr. 01, 2017	Oct. 31, 2015
Debt Instrument [Line Items]
Fixed interest rate				1.15%
Common Stock
Debt Instrument [Line Items]
Shares issued in settlement of debt (shares)		34,659,972
Convertible Notes | 6.00% Convertible Senior Notes due 2020
Debt Instrument [Line Items]
Fixed interest rate	6.00%	6.00%
Principal value of the liability component	$ 65,000,000
Percentage of stock price the Notes were sold	100.00%
Proceeds from the sale of convertible notes, net	$ 61,600,000
Unamortized value of the debt discount and issuance costs	3,400,000
Offering expenses	$ 600,000
Payment on 6% Notes		$ 4,700,000
Convertible Notes | 6.00% Convertible Senior Notes due 2020 | Interest Income (Expense), Net
Debt Instrument [Line Items]
Interest make-whole charge			$ 5,900,000
Convertible Notes | 6.00% Convertible Senior Notes due 2020 | Other Income (Expense), Net
Debt Instrument [Line Items]
Induced conversion expense			$ 7,400,000

POST-RETIREMENT BENEFITS - Addi

POST-RETIREMENT BENEFITS - Additional Information (Details) - Pension Plan - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Japan
Defined Benefit Plan Disclosure [Line Items]
Contributions made under defined contribution plan	$ 100,000	$ 100,000	$ 400,000	$ 400,000
Plan assets			0
Accrued expenses and other liabilities	200,000		200,000
Other non current liabilities	7,100,000		7,100,000
Benefits paid	100,000		100,000	200,000
United Kingdom
Defined Benefit Plan Disclosure [Line Items]
Contributions made under defined contribution plan	$ 300,000	$ 300,000	$ 1,100,000	$ 800,000

POST-RETIREMENT BENEFITS - Net

POST-RETIREMENT BENEFITS - Net Periodic Pension Costs (Details) - Pension Plan - Japan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 163	$ 172	$ 477	$ 480
Interest cost	5	1	15	3
Net periodic pension costs	$ 168	$ 173	$ 492	$ 483

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Millions	Nov. 24, 2016patent	Oct. 31, 2015installment	Mar. 31, 2018USD ($)	Jul. 01, 2017USD ($)
Contingencies And Commitments [Line Items]
Capital lease term		5 years
Number of capital lease installment payments | installment		20
Interest rate on capital lease (percent)		1.15%
Malaysian goods and services tax refund claim			$ 2.5
Number of allegedly infringed patents included in third party lawsuit which may incorporate Oclaro components | patent	7
Prepaid Expenses and Other Current Assets
Contingencies And Commitments [Line Items]
Malaysian goods and services tax refund claim			0.7
Inventory in Excess of Future Demand Forecasts | Accrued Expenses and Other Liabilities
Contingencies And Commitments [Line Items]
Purchase commitments			$ 7.7	$ 4
Minimum
Contingencies And Commitments [Line Items]
Warranty for products from date of sale			12 months
Maximum
Contingencies And Commitments [Line Items]
Warranty for products from date of sale			36 months

COMMITMENTS AND CONTINGENCIES45

COMMITMENTS AND CONTINGENCIES - Movements in Warranty Accrual for Period (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Warranty Provision Roll Forward:
Warranty provision—beginning of period	$ 4,206	$ 4,560	$ 4,124	$ 3,827
Warranties issued	135	991	435	2,533
Warranties utilized or expired	(243)	(901)	(516)	(1,505)
Currency translation and other adjustments	51	9	106	(196)
Warranty provision—end of period	$ 4,149	$ 4,659	$ 4,149	$ 4,659

COMMITMENTS AND CONTINGENCIES46

COMMITMENTS AND CONTINGENCIES - Summary of Future Minimum Lease Payments Due Under Non-Cancelable Capital Leases (Details) $ in Thousands	Mar. 31, 2018USD ($)
Fiscal Year Ending:
2018 (remaining)	$ 942
2,019	1,784
2,020	638
2,021	276
Total minimum lease payments	3,640
Less amount representing interest	(93)
Present value of capitalized payments	3,547
Less: current portion	(2,514)
Long-term portion	$ 1,033

EMPLOYEE STOCK PLANS - Addition

EMPLOYEE STOCK PLANS - Additional Information (Details)	Nov. 17, 2017shares	Aug. 10, 2016	Aug. 31, 2017USD ($)yrquartershares	Aug. 31, 2016USD ($)quartershares	Aug. 31, 2015USD ($)shares	Mar. 31, 2018shares	Dec. 29, 2017$ / shares	Jul. 01, 2017shares
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Number of additional shares authorized under the Plan (in shares)	8,000,000					8,000,000
Number of shares available under the ESPP (in shares)						16,722,000		13,581,000
Closing price of common stock (in usd per share) | $ / shares							$ 9.56
Number of shares of common stock subject to in-the-money options (in shares)						600,000
PSUs | Certain Executive Officers
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Number of granted shares (in shares)			1,100,000	800,000	900,000
Aggregate estimated grant date fair value of PSU | $			$ 9,500,000	$ 4,800,000	$ 2,500,000
Free cash flow requirement | $				$ 25,000,000
Number of consecutive fiscal quarters | quarter				4
PSUs | Certain Executive Officers | Vesting over Consecutive Quarters through 2020
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Revenue requirement | $			$ 700,000,000
Percentage of shares that will vest (percent)			33.34%
Free cash flow requirement | $			$ 100,000,000
Number of consecutive fiscal quarters | quarter			4
PSUs | Certain Executive Officers | Vesting upon Achievement of Reveue Target in any Fiscal Year from 2018 through 2020
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Revenue requirement | $			$ 800,000,000
Number of fiscal years | yr			1
PSUs | Certain Executive Officers | Service-based Condition, Vesting on 1st Anniversary
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Percentage of shares that will vest (percent)			33.34%
PSUs | Certain Executive Officers | Service-based Condition, Vesting Every 3 Months after 1st Anniversary
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Percentage of shares that will vest (percent)			8.33%
PSUs | Certain Executive Officers | August 10, 2017
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Percentage of shares that will vest (percent)				25.00%
PSUs | Certain Executive Officers | Subsequent Quarter over Following Three Years
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Award vesting period				3 years
Percentage of shares that will vest (percent)				6.25%
PSUs | Certain Executive Officers | August 10, 2016
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Percentage of shares that will vest (percent)		33.40%
PSUs | Certain Executive Officers | Subsequent Quarter Over the Next Two Years
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Award vesting period					2 years
Percentage of shares that will vest (percent)					8.325%
RSUs
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Award vesting period			4 years	4 years
RSUs | Certain Executive Officers
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Number of granted shares (in shares)			600,000	800,000
RSUs | Employees
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Number of granted shares (in shares)			1,600,000	2,000,000
Minimum | Stock Options
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Award vesting period						2 years
Minimum | Restricted Stock Awards / Units Outstanding
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Award vesting period						1 year
Maximum | Stock Options
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Award vesting period						4 years
Maximum | Restricted Stock Awards / Units Outstanding
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Award vesting period						4 years

EMPLOYEE STOCK PLANS - Summariz

EMPLOYEE STOCK PLANS - Summarizes Combined Activity Under All of Our Equity Incentive Plans (Details) - $ / shares	Nov. 17, 2017	Mar. 31, 2018
Shares Available For Grant
Balance at beginning of period (in shares)		13,581,000
Increase in share reserve (in shares)	8,000,000	8,000,000
Granted (in shares)		(5,677,000)
Exercised or released (in shares)		26,000
Forfeited or expired (in shares)		792,000
Balance at end of period (in shares)		16,722,000
Stock Options / SARs Outstanding
Balance at beginning of period (in shares)		1,858,000
Granted (in shares)		0
Exercised or released (in shares)		(518,000)
Forfeited or expired (in shares)		(179,000)
Balance at end of period (in shares)		1,161,000
Weighted- Average Exercise Price
Balance at beginning of period (in usd per share)		$ 7.84
Granted (in usd per share)		0
Exercised or released (in usd per share)		4.93
Forfeited or expired (in usd per share)		16.47
Balance at end of period (in usd per share)		7.80
Weighted- Average Grant Date Fair Value
Balance at beginning of period (in usd per share)		5.43
Granted (in usd per share)		8.20
Exercised or released (in usd per share)		5.02
Forfeited or expired (in usd per share)		6.67
Balance at end of period (in usd per share)		$ 7.13
Restricted Stock Awards / Units Outstanding
Time and Performance-based Restricted Stock Awards / Units Outstanding
Balance at beginning of period (in shares)		5,687,000
Granted (in shares)		4,055,000
Exercised or released (in shares)		(2,432,000)
Forfeited or expired (in shares)		(440,000)
Balance at end of period (in shares)		6,870,000

EMPLOYEE STOCK PLANS - Suppleme

EMPLOYEE STOCK PLANS - Supplemental Disclosure Information About Our Stock Options and SAR's Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Mar. 31, 2018	Jul. 01, 2017
Schedule Of Stock Options [Line Items]
Shares, Options and SARs exercisable	600
Shares, Options and SARs outstanding	1,161	1,858
Weighted-Average Exercise Price, Options and SARs outstanding (in usd per share)	$ 7.80	$ 7.84
Stock options and SARs
Schedule Of Stock Options [Line Items]
Shares, Options and SARs exercisable	1,138
Shares, Options and SARs outstanding	1,161
Weighted-Average Exercise Price, Options and SARs exercisable (in usd per share)	$ 7.92
Weighted-Average Exercise Price, Options and SARs outstanding (in usd per share)	$ 7.80
Weighted-Average Remaining Contractual Life, Options and SARs exercisable	2 years 2 months 20 days
Weighted-Average Remaining Contractual Life, Options and SARs outstanding	2 years 3 months 10 days
Aggregate Intrinsic Value, Options and SARs exercisable	$ 3,546
Aggregate Intrinsic Value, Options and SARs outstanding	$ 3,727

STOCK-BASED COMPENSATION - Amou

STOCK-BASED COMPENSATION - Amounts Included in Cost of Revenues and Operating Expenses for Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	$ 3,917	$ 2,890	$ 11,055	$ 7,922
Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	17	32	79	102
Restricted stock awards
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	3,947	2,747	11,377	7,950
Inventory adjustment to cost of revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	(47)	111	(401)	(130)
Cost of revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	763	630	1,956	1,381
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	857	590	2,582	1,573
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	$ 2,297	$ 1,670	$ 6,517	$ 4,968

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017	Jul. 01, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 3,917	$ 2,890	$ 11,055	$ 7,922
Unrecognized stock-based compensation expense	100		$ 100
Unrecognized stock-based compensation expense, weighted-average period for recognition			6 months 10 days
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	3,947	2,747	$ 11,377	7,950
Unrecognized stock-based compensation expense, weighted-average period for recognition			2 years 4 months 2 days
Unrecognized stock-based compensation expense other than options	32,600		$ 32,600
Inventory
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation capitalized as inventory			1,000		$ 600
Accumulated Deficit | Accounting Standards Update 2016-09
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative effect adjustment	300		300
Additional Paid-in Capital | Accounting Standards Update 2016-09
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative effect adjustment	(300)		(300)
August 2015 and August 2016 | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 500	$ 700	1,800	$ 1,900
August 2017 | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense			$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Investments, Owned, Federal Income Tax Note [Line Items]
Income tax provision	$ 390	$ 621	$ 9,803	$ 1,064
Unrecognized tax benefits	2,900		2,900			$ 3,500
Unrecognized tax benefits that would affect effective tax rate	2,300		2,300
Estimated decrease in unrecognized tax benefits	$ 600		600
Impact of rate change on gross deferred tax assets			$ (31,600)
Forecast
Investments, Owned, Federal Income Tax Note [Line Items]
Corporate Federal income tax effective rate (percent)					28.00%

NET INCOME PER SHARE - Calculat

NET INCOME PER SHARE - Calculation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Earnings Per Share [Abstract]
Net income (loss)	$ 10,807	$ 38,214	$ 56,033	$ 71,832
Weighted-average shares - Basic (shares)	169,602	166,808	168,910	155,037
Effect of dilutive potential common shares from:
Stock options and stock appreciation rights (shares)	336	651	409	712
Restricted stock units and awards (shares)	1,323	2,382	2,019	2,484
Convertible notes (shares)	0	0	0	5,004
Weighted-average shares - Diluted (shares)	171,261	169,841	171,338	163,237
Basic net income (loss) per share (in USD per share)	$ 0.06	$ 0.23	$ 0.33	$ 0.46
Diluted net income (loss) per share (in USD per share)	$ 0.06	$ 0.22	$ 0.33	$ 0.44

NET INCOME PER SHARE - Addition

NET INCOME PER SHARE - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0.9	0.6	0.7	0.8

GEOGRAPHIC INFORMATION, PRODU55

GEOGRAPHIC INFORMATION, PRODUCT GROUPS AND CUSTOMER CONCENTRATION INFORMATION - Revenues by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Geographic Information [Line Items]
Revenues	$ 127,293	$ 162,182	$ 422,226	$ 451,588
Asia-Pacific:
Geographic Information [Line Items]
Revenues	61,885	92,933	197,619	287,799
China
Geographic Information [Line Items]
Revenues	40,281	57,882	133,146	180,551
Thailand
Geographic Information [Line Items]
Revenues	15,559	24,722	45,572	78,852
Malaysia
Geographic Information [Line Items]
Revenues	692	4,000	4,112	15,703
Other Asia-Pacific
Geographic Information [Line Items]
Revenues	5,353	6,329	14,789	12,693
Americas:
Geographic Information [Line Items]
Revenues	33,937	45,877	150,740	103,191
United States
Geographic Information [Line Items]
Revenues	9,604	22,832	66,807	54,574
Mexico
Geographic Information [Line Items]
Revenues	22,399	8,930	73,530	26,290
Other Americas
Geographic Information [Line Items]
Revenues	1,934	14,115	10,403	22,327
EMEA:
Geographic Information [Line Items]
Revenues	29,720	19,529	68,476	53,276
Italy
Geographic Information [Line Items]
Revenues	12,466	7,577	31,703	23,601
Germany
Geographic Information [Line Items]
Revenues	7,790	5,116	15,181	11,493
Other EMEA
Geographic Information [Line Items]
Revenues	9,464	6,836	21,592	18,182
Japan
Geographic Information [Line Items]
Revenues	$ 1,751	$ 3,843	$ 5,391	$ 7,322

GEOGRAPHIC INFORMATION, PRODU56

GEOGRAPHIC INFORMATION, PRODUCT GROUPS AND CUSTOMER CONCENTRATION INFORMATION - Revenues by Product Group (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Segment Information [Line Items]
Revenues	$ 127,293	$ 162,182	$ 422,226	$ 451,588
100 Gb/s transmission modules
Segment Information [Line Items]
Revenues	95,663	125,818	326,675	337,424
40 Gb/s and lower transmission modules
Segment Information [Line Items]
Revenues	$ 31,630	$ 36,364	$ 95,551	$ 114,164

GEOGRAPHIC INFORMATION, PRODU57

GEOGRAPHIC INFORMATION, PRODUCT GROUPS AND CUSTOMER CONCENTRATION INFORMATION - Additional Information (Details) - customer	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017	Jul. 01, 2017
Revenues
Revenue, Major Customer [Line Items]
Number of major customers	5	4	5	4
Revenues | Customer A
Revenue, Major Customer [Line Items]
Percentage of revenues	18.00%	18.00%	16.00%	19.00%
Revenues | Customer B
Revenue, Major Customer [Line Items]
Percentage of revenues	15.00%	17.00%	13.00%	18.00%
Revenues | Customer C
Revenue, Major Customer [Line Items]
Percentage of revenues	13.00%	12.00%	12.00%	16.00%
Revenues | Customer D
Revenue, Major Customer [Line Items]
Percentage of revenues	10.00%	12.00%	12.00%	11.00%
Revenues | Customer E
Revenue, Major Customer [Line Items]
Percentage of revenues	10.00%		11.00%
Accounts Receivable
Revenue, Major Customer [Line Items]
Number of major customers			4		1
Accounts Receivable | Customer A
Revenue, Major Customer [Line Items]
Percentage of accounts receivable	19.00%		19.00%		20.00%
Accounts Receivable | Customer B
Revenue, Major Customer [Line Items]
Percentage of accounts receivable	12.00%		12.00%
Accounts Receivable | Customer C
Revenue, Major Customer [Line Items]
Percentage of accounts receivable	12.00%		12.00%
Accounts Receivable | Customer D
Revenue, Major Customer [Line Items]
Percentage of accounts receivable	10.00%		10.00%

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017	May 08, 2018
Subsequent Event [Line Items]
Revenues	$ 127,293	$ 162,182	$ 422,226	$ 451,588
Write-down of on-hand inventory designated for products to be sold to ZTE			3,083	$ 0
ZTE
Subsequent Event [Line Items]
Accounts receivable believed to be collectible	13,400		13,400
Write-down of on-hand inventory designated for products to be sold to ZTE	$ 3,100		$ 3,100
Subsequent Event | ZTE
Subsequent Event [Line Items]
Accounts receivable believed to be collectible					$ 8,800