JDS Uniphase Swings To 3Q Profit, Topping Street Views; Stock Up

Date : 05/04/2011 @ 5:16PM
Source : Dow Jones News
Stock : Viavi Solutions Inc. (VIAV)
Quote : 8.64  -0.09 (-1.03%) @ 5:15PM

JDS Uniphase Swings To 3Q Profit, Topping Street Views; Stock Up

Historical Stock Chart

5 Years : From Jan 2013 to Jan 2018

Click Here for more (MM) Charts.

JDS Uniphase Corp. (JDSU) swung to a fiscal third-quarter profit, and adjusted results rose and topped analysts' estimates, as the company saw revenue jump sharply.

The company also forecast current-quarter revenue of $455 million to $475 million. Analysts surveyed by Thomson Reuters expect $470 million.

Shares jumped 8.9% to $21.78 after hours. As of the close, the stock had risen 38% so far this year.

JDS, which makes products for telecommunications companies, cable operators and network-equipment manufacturers, has returned to profitability in recent quarters after a more than two-year streak in the red. Results have been helped by sharp revenue growth amid continued strength in its optical-component business.

For the quarter ended April 2, JDS reported a profit of $38.6 million, or 16 cents a share, from a loss of $11.9 million, or 5 cents, a year earlier. Excluding items such as stock-based compensation, earnings rose to 22 cents from 10 cents. Analysts polled by Thomson Reuters had most recently forecast earnings of 20 cents.

Revenue jumped 37% to $454 million. The company had forecast $440 million to $460 million.

In the communications test and measurement segment, the company's largest, revenue rose 30%, while it rose 63% in the communications and commercial optical products segment, which is involved in telecom and cable television.

-By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com;


Latest VIAV Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.