DOW JONES NEWSWIRES 
 

JDS Uniphase Corp. (JDSU) swung to a fiscal second-quarter loss on a $691.6 million goodwill write-down amid slumping sales as the company also projected fiscal third-quarter revenue far below analysts' estimates.

The fiber-optic equipment company forecast revenue this quarter of $275 million to $300 million. Analysts polled by Thomson Reuters expected, on average, revenue of $357.9 million.

Shares fell 5.1% to $3.90 in after-hours trading as revenue in the latest period also fell short of expectations. The stock is down more than 60% over the past six months.

JDS, like other makers of broadband products, is being hit hard as telecom operators slow purchases and pull back on information-technology spending. The company is particularly reliant on just a handful of clients, including AT&T Inc. (T) and Verizon Communications Inc. (VZ).

For the quarter ended Dec. 27, JDS reported a net loss of $705.3 million, or $3.28 cents a share, compared with year-earlier net income of $21.2 million, or 9 cents a share. Excluding items including the write-down, disclosed last month, earnings slid to 11 cents from 22 cents.

Revenue fell 11% to $357 million, missing the company's October forecast of $360 million to $390 million, which was below analysts' estimates at the time.

Analysts most recently expected earnings of 10 cents on $371.6 million in revenue. JDS's results have now come in below Wall Street estimates for the past three quarters.

Gross margin fell to 38.3% from 42.9% amid the sales decline.

The company's optical-communication segment, which is involved in telecom and cable television, saw revenue fall 16%. The smaller advanced optical technologies group, which makes decorative light products, thin film coatings and document authentication products, jumped 6.6%.

-By Melissa Korn and Lauren Pollock, Dow Jones Newswires; 201-938-5964; lauren.pollock@dowjones.com