JDS Uniphase Corp Earnings Cheat Sheet: Tops Analysts’ Expectations

S&P 500 (NYSE:SPY) component JDS Uniphase Corporation (NASDAQ:JDSU) reported net income above Wall Street’s expectations for the fourth quarter. JDS Uniphase Corporation provides communications test and measurement solutions and optical products for cable operators, telecommunications service providers and network equipment manufacturers.

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JDS Uniphase Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the communication equipment company rose to $9.3 million (4 cents per share) vs. $1.5 million (one cent per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter.

Revenue: Rose 20.7% to $471.8 million from the year earlier quarter.

Actual vs. Wall St. Expectations: JDSU reported adjusted net income of 23 cents per share. By that measure, the company beat the mean estimate of 18 cents per share. Analysts were expecting revenue of $466.4 million.

Quoting Management: “JDSU delivered solid fiscal fourth quarter and full year financial results.Revenue for the year grew over 32% and operating profits more than doubled,” said Tom Waechter, JDSU’s President and Chief Executive Officer.”Currently we are seeing macro-economic challenges and inventory corrections which we believe will be short-term in nature as the end market drivers remain strong.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 34.6%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 41.6% from the year earlier quarter.

Last quarter marked the fifth consecutive quarter of gross margins expanding as the company’s gross margin expanded two percentage points to 46.3% from the year earlier quarter. Over that span, margins have grown on average 2.8 percentage points per quarter on a year-over-year basis.

The company topped expectations last quarter after falling short of forecasts in the third quarter with net income of 17 cents versus a mean estimate of net income of 18 cents per share.

Competitors to Watch: EXFO Electro-Optical Engineering (NASDAQ:EXFO), Finisar Corporation (NASDAQ:FNSR), Ixia (NASDAQ:XXIA), Oclaro, Inc. (NASDAQ:OCLR), 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).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)