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Finisar Corporation (NASDAQ:FNSR) reported its results for the third quarter. Net income for Finisar Corporation fell to $8.9 million (9 cents per share) vs. $18.8 million (22 cents per share) a year earlier. This is a decline of 52.7% from the year-earlier quarter. Revenue fell 7.6% to $243 million from the year-earlier quarter. Finisar Corporation fell short of the mean analyst estimate of 17 cents per share. Analysts were expecting revenue of $244.2 million.
“In our just completed fiscal third quarter, our revenues were $243.0 million, 0.6% greater than the preceding quarter. Sales of datacom products were strong. Gross margin was relatively unchanged from the preceding quarter, despite the impact of one month of the annual price reduction for telecom products. We held operating expenses below plan, so that operating income and operating margin increased relative to the preceding quarter,” said Jerry Rawls, Finisar’s executive Chairman of the Board.
Competitors to Watch: JDS Uniphase Corporation (NASDAQ:JDSU), Oclaro, Inc. (NASDAQ:OCLR), Oplink Communications, Inc (NASDAQ:OPLK), EMCORE Corporation (NASDAQ:EMKR), Opnext, Inc. (NASDAQ:OPXT), Alliance Fiber Optic Products, Inc. (NASDAQ:AFOP), Cisco Systems, Inc. (NASDAQ:CSCO), and Arris Group, Inc. (NASDAQ:ARRS).
Yingli Green Energy Holding Company Limited (NYSE:YGE) reported its results for the fourth quarter. Net loss for the company was $599.4 million ($3.87 per share) vs. a profit of $84 million (52 cents per share) the year earlier. Reported $408 million.Yingli Green Energy Holding Company Limited reported adjusted net income of 13 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 74 cents per share. It fell short of the average revenue estimate of $428.6 million.
“The PV industry experienced tremendous pressure in 2011 due to supply-demand imbalance throughout the value chain. This pressure was exacerbated by incentive adjustments in major solar markets and implementation of government austerity measures in Europe. Yingli Green Energy successfully navigated the intensified competition by achieving full year 2011 module shipments of 1,603.8 MW, representing a volume increase of fifty-one percent over 2010. This increase was attributable to our differentiated market channels, strong brand and end market diversification,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “While our module shipment volume in the fourth quarter was down from the previous quarter, we strengthened our position in major markets such as Germany, China and the United States.”
Competitors to Watch: Trina Solar Limited (NYSE:TSL), Suntech Power Hldgs. Co., Ltd. (NYSE:STP), JA Solar Hldgs. Co., Ltd. (NASDAQ:JASO), SunPower Corporation (NASDAQ:SPWRA), First Solar, Inc. (NASDAQ:FSLR), China Sunergy Co., Ltd. (NASDAQ:CSUN), LDK Solar (NYSE:LDK), JinkoSolar Holding Co., Ltd. (NYSE:JKS), Total (NYSE:TOT), Chevron (NYSE:CVX), ExxonMobil (NYSE:XOM), BP plc (NYSE:BP) and Ascent Solar Tech., Inc. (NASDAQ:ASTI).
To contact the reporter on this story: Derek Hoffman at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org
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