JDS Uniphase 4Q Net Soars On Higher Sales; 1Q Revenue View Weak

Date : 08/17/2011 @ 5:20PM
Source : Dow Jones News
Stock : Viavi Solutions Inc. (MM) (VIAV)
Quote : 11.25  0.0 (0.00%) @ 8:21AM

JDS Uniphase 4Q Net Soars On Higher Sales; 1Q Revenue View Weak

(MM) (NASDAQ:JDSU)
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JDS Uniphase Corp.'s (JDSU) fiscal fourth-quarter profit jumped as the broadband-products maker's communications and optical products business continued to drive higher sales.

However, shares fell 3.2% to $11.33 after hours as the company forecast a weak first-quarter top line between $400 million and $425 million. Analysts on average expected $470 million, according to a poll by Thomson Reuters. The stock was down 19% this year through the close.

JDS--which makes products for telecommunications companies, cable operators and network-equipment manufacturers--has stayed in the black over the past year following more than two years of losses caused by a slump during the recession.

Growing demand for the company's optical-components business has helped improve revenue in recent quarters.

For the quarter ended July 2, JDS reported a profit of $9.3 million, or 4 cents a share, up from $1.5 million, or a penny a share, a year earlier. Excluding restructuring costs and write-downs, earnings rose to 23 cents a share from 15 cents. Analysts expected 23 cents a share.

Revenue rose 21% to $471.8 million, coming in at the high end of the company's May forecast of $455 million to $475 million.

Gross margin including write-downs of acquired technologies widened to 43.3% from 40.9%.

Revenue rose 14% in the communications test and measurement segment, the company's largest. Revenue increased 29% in the communications and commercial optical products segment, which is involved in telecom and cable television.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

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