Finisar Earnings: Here’s Why the Stock is Rising Now
Finisar Corp. (NASDAQ:FNSR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 7.85%.
Finisar Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 4.76% to $0.20 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Rose 1.45% to $243.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Finisar Corp. reported adjusted EPS income of $0.20 per share. By that measure, the company beat the mean analyst estimate of $0.17. It beat the average revenue estimate of $242.6 million.
Quoting Management: “I am pleased to report fiscal fourth quarter revenues of $243.4 million, which is $5.1 million, or 2.1%, greater than the prior quarter. Our growth in revenues came primarily from sales of 10G and 100G Ethernet transceivers and transponders for datacom applications. Our favorable product mix in the quarter enabled us to achieve gross margin and earnings per diluted share that exceeded our guidance range,” said Jerry Rawls, Finisar’s executive Chairman of the Board.
Key Stats (on next page)…