Finisar Q1 Profit Meets Estimate; Guides Q2 Below Consensus

(RTTNews) - Finisar Corp. (FNSR)reported net income for the first quarter of $14.2 million or $0.14 per share, compared to $26.0 million or $0.26 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest quarter was $33.3 million or $0.32 per share.

Revenue for the first quarter rose to $327.64 million from $266.07 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.32 per share on revenue of $328.66 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts revenue of $305 million to $320 million and adjusted earnings of $0.23 to $0.27 per share. Analysts currently expect the company to earn $0.35 per share on revenue of $337.50 million for the second quarter.