JDS Uniphase Corporation (NASDAQ:JDSU) reported its results for the first quarter. Reported a loss of $5.8 million (3 cents per diluted share) in the quarter. JDS Uniphase Corporation had a net income of $100,000 or breakeven on a per share basis in the year earlier quarter. Revenue rose 3.8% to $420.8 million from the year earlier quarter. The company reported adjusted net income of 18 cents a share. By that measure, it beat the mean analyst estimate of 13 cents a share. It beat the mean revenue estimate of $415 million.
“I am very pleased with our operating results during this period of macroeconomic uncertainty,” said Tom Waechter, JDSU’s President and Chief Executive Officer. “Although revenue levels are being restricted by these global headwinds, the mix of our highly innovative and differentiated products continues to grow with a favorable impact on gross margin. This combined with strong cost controls allowed us to significantly exceed expectations for operating margins. I am also happy to announce that all JDSU, Thailand employees are safe from the flooding in southern Thailand and we have added additional employees there to help meet our customer’s needs as best as possible under these difficult conditions.”
Competitors to Watch: EXFO Electro-Optical Engineering (NASDAQ:EXFO), Finisar Corporation (NASDAQ:FNSR), Ixia (NASDAQ:XXIA), Oclaro, Inc. (NASDAQ:OCLR), Spirent Communications Plc (SPMYY), Tollgrade Communications, Inc. (NASDAQ:TLGD), Oplink Communications, Inc (NASDAQ:OPLK), Ciena Corporation (NASDAQ:CIEN), Agilent Technologies Inc. (NYSE:A), and RiT Technologies Ltd. (NASDAQ:RITT).
Level three Communications, Inc. (NASDAQ:LVLT) reported its results for the third quarter. Reported loss of $207 million ($1.75 per diluted share on adjusted basis from stock split) from $163 million (loss of $1.47 per share on a split-adjusted basis) in the same quarter a year earlier. Revenue rose 1.6% to $927 million from the year earlier quarter. The mean estimate for LVLT was a loss of $1.48 per share. It fell short of the average revenue estimate of $1.29 billion
Competitors to Watch: Global Crossing Ltd. (NASDAQ:GLBC), AT&T Inc. (NYSE:T), Verizon Communications Inc. (NYSE:VZ), tw telecom inc. (NASDAQ:TWTC), XO Holdings Inc. (XOHO), AboveNet, Inc. (NYSE:ABVT), PAETEC Holding Corp. (NASDAQ:PAET), Xfone, Inc. (AMEX:XFN), Tata Communications Ltd. (NYSE:TCL), and Cincinnati Bell Inc. (NYSE:CBB).
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) reported net income above Wall Street’s expectations for the third quarter. Net income for Cognizant Technology Solutions Corporation rose to $227.1 million (73 cents per share) vs. $203.7 million (66 cents per share) in the same quarter a year earlier. This marks a rise of 11.5% from the year earlier quarter. Revenue rose 31.6% to $1.6 billion from the year earlier quarter. CTSH reported adjusted net income of 80 cents per share. By that measure, the company beat the mean estimate of 71 cents per share. Analysts were expecting revenue of $1.57 billion.
“Cognizant has delivered another strong quarter of industry leading revenue growth with non-GAAP operating margins within our target range. Growth during the quarter was again broad-based across our portfolio of industries, services and geographies,” said Francisco D’Souza, President and CEO. “In spite of persistent macro-economic uncertainties, clients throughout the world continue to invest thoughtfully and strategically in their businesses and are directing investments toward building agility to drive the dual mandates of operational efficiency and business transformation. Cognizant’s continued investments across multiple service horizons help address these dual mandates and drive superior business value regardless of the economic environment.”
Intl. Business Machines Corp. (NYSE:IBM), iGATE Corporation (NASDAQ:IGTE), Syntel, Inc. (NASDAQ:SYNT), Computer Sciences Corp. (NYSE:CSC), Infosys Tech. Ltd. (NASDAQ:INFY), Wipro Limited (NYSE:WIT), CIBER, Inc. (NYSE:CBR), Edgewater Technology Inc. (NASDAQ:EDGW), Virtusa Corporation (NASDAQ:VRTU), and Patni Computer Systems Ltd. (NYSE:PTI).