JDS Uniphase Corp (NASDAQ:JDSU), the communications equipment maker, posted its results for the fiscal first quarter and the losses are much higher than last year. However, profits after adjustments beat analysts’ estimates, although adjusted revenue fell short of expectations. The revenue forecast for the second quarter was also lower than Street estimates.
The net loss of $11.6 million or $0.05 a share, was much deeper than the net loss of $5.8 million or $0.03 a share in the prior year period.
The adjusted income of the California-based Company was $35 million or $0.15 a share. Analysts had expected only $0.12 a share this quarter. However, the adjusted net income in the same period last year was higher, $41.2 million or $0.18 a share.
Adjusted revenues rose 1.2 percent to $420.9 million from $416.1 million. The Street had expected $426.85 million.
The company sees net revenue in the range of $410 million and $430 million in the second quarter. But analysts expect much higher revenues of $464.40 million.
Shares of JDSU slid 2.23% to $10.10 in the opening session.
Jda Software Group Inc(NASDAQ:JDAS) which is mainly into enterprise technology is on the block, according to sources. It has reportedly appointed JP Morgan Chase and Co as adviser. Several parties have expressed their interest in purchasing the company, private equity firms and strategic buyers included.
The $1.5 billion company provides customized software to a wide range of customers. In March, the New York-based Praesidium Investment Management Company LLC, had disclosed that it had taken a stake in JDA Software and that it would discuss business, management and operations with the company's board, shareholders and other stakeholders.
Praesidium, the largest shareholder of JDA software, has over the last several months increased its equity stake to 8.9 percent.
Shares of the company soared over 12% in the opening session.