Economic Uncertainty Takes a Bite Out of JDSU
JDS Uniphase (NASDAQ:JDSU) reported a third-quarter loss Wednesday afternoon, blaming “later than anticipated carrier orders and global macro-economic uncertainty” for a sales shortfall for the maker of optical networking gear.
In the quarter ended March 31, JDSU reported a net loss of $17.4 million, or 8 cents a share, compared to net income of $38.6 million, or 16 cents a share, for the same period last year. On a non-GAAP basis, JDSU said it earned $25.3 million, or 11 cents a share.
Revenue declined 10 percent to $409.2 million. Analysts were expecting earnings of 11 cents a share on revenue of $420.3 million, according to a Thomson Reuters poll.