JDS Uniphase Earnings: Revenue Cold Streak Snapped
S&P 500 (NYSE:SPY) component JDS Uniphase Corporation (NASDAQ:JDSU) reported its results for the first quarter. JDS Uniphase provides communications test and measurement solutions and optical products for cable operators, telecommunications service providers and network equipment manufacturers.
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JDS Uniphase Corporation Earnings Cheat Sheet
Results: Loss widened to $11.6 million (5 cents per diluted share) from $5.8 million (loss of 3 cents per share) in the same quarter a year earlier.
Revenue: Rose 1.2% to $420.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: JDS Uniphase Corporation fell short of the mean analyst estimate of 9 cents per share. Analysts were expecting revenue of $420 million.
Quoting Management: “Our solid fiscal Q1 results reflect JDSU’s ability to deliver to its commitments even during periods of economic uncertainty,” said Tom Waechter, JDSU’s President and Chief Executive Officer.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of 10 cents versus a mean estimate of net income of 8 cents per share.
Looking Forward: Expectations for the second quarter have not changed from 19 cents. The average estimate for the fiscal year is 66 cents per share, down from 68 cents ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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