Although, JDS Uniphase Corporation(NASDAQ:JDSU) continued to report lower profit and swung to loss in fourth-quarter on lower revenue, but the company’s earnings came in ahead of analysts’ target.
The posted net loss of $24.3 million, or 10 cents a share, compared with a year ago profit of $9.3 million, or four cents a share. On an adjusted basis, the company would have earned 15 cents a share, topping analysts’ target by 3 cents.
Revenue during the quarter fell 6.90% year over year to $439.3 million, ahead of the company’s own estimates of $415 million to $435 million. Gross margin continued to slide and narrowed to 41.6% from 43.3%.
How Should Investors Trade JDSU After Its Earnings, Find Out here
For the current quarter, the company is projecting to generate revenue of $415 million to $435 million, compared to analysts’ estimate of $427 million. That's better than many feared, given the telecom capex environment. FQ4 optical component sales fell 10.9% Y/Y, but that's much better than FQ3's 22.5% drop.
Shares of JDSU recovered over 5.50% in extended hours after plunging 3.45% in the regular session. Shares of the company have provided flat return so far this year.
Shares of Finisar Corporation(NASDAQ:FNSR) also rose 4% and Oclaro, Inc.(NASDAQ:OCLR) gained 3% I n afterhours session.