JDSU's Not Down
5:45 PM -- JDSU (Nasdaq: JDSU; Toronto: JDU) shares appear to be up slightly after-hours -- up 8 cents (1.3%) at $6.08 -- even though the company's second-quarter forecast looks slim.
In fact, the book-to-bill ratio was less than 1.0 for every product segment, CEO Kevin Kennedy is saying on the earnings call, going on now. Which means revenues might be poised to drop across the board.
That's not good in any event, but it's especially disappointing going into the December quarter. Customers usually give the test-and-measurement sector a boost late in the year as they try to use up their budgets.
Ain't happening this time, apparently. JDSU says second-quarter revenues will be $360 million to $390 million, compared with the $417 million analysts were expecting, according to Reuters Research .
In the here-and-now: pro forma earnings for JDSU's first quarter, which ended in September, were 11 cents, beating the Reuters estimate by 2 cents. Revenues of $386.7 million met the shrunken forecast JDSU gave a few months ago. (See JDSU's Down and Doink! JDSU Hits Capacity Ceiling.)
— Craig Matsumoto, West Coast Editor, Light Reading