JDS Uniphase Results Miss Estimates, Outlook Weak; Stock Down 7%

(RTTNews) - JDS Uniphase Corp (JDSU) Wednesday reported third-quarter net loss of $1.5 million or $0.01 per share compared with a loss of $28 million or $0.12 per share last year.

Excluding items, adjusted earnings for the quarter were $23.4 million or $0.10 per share compared with $24.1 million or $0.10 per share a year ago.

Revenues for the quarter were $418 million compared with $405.3 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.11 per share on revenues of $431.7 million for the quarter. Analysts' estimates typically exclude special items.

"Our fiscal third quarter revenue was impacted by later-than-expected carrier orders, but we are encouraged by a strong bookings performance and believe positive industry trends will drive improved top-line growth in our fiscal fourth quarter," said CEO Tom Waechter.

Looking ahead to the fourth quarter, the company expects adjusted earnings of $0.10 to $0.14 per share and revenues of $425 million to $445 million. Analysts expect earnings of $0.17 per share on revenues of $459 million.

Milpitas, California-based DS Uniphase provides communications test and measurement solutions and optical products.