JDSU Reports Q1 Losses, Beats Estimates
The loss comes out to 3 cents per share on revenues of $420.8 million. The numbers compare with revenues of $411.3 million and net income of $44.8 million -- break-even by GAAP standards -- for the first quarter last year.
Non-GAAP earnings per share of 18 cents beat out analyst expectations of 13 cents, as reported by Thomson Reuters .
JDSU expects second-quarter revenues of $375 million to $405 million. That range includes $35 million to $45 million of lost or delayed business due to the flooding in Thailand, which has caused shutdowns at contract manufacturer Fabrinet Co. Ltd. (NYSE:FN) Even taking that into account, though, JDSU's forecast is disappointing; analysts were expecting second-quarter revenues of $448.8 million. (See Thailand's Floods Will Affect Optical Sales.)
— Craig Matsumoto, West Coast Editor, Light Reading