JDS Uniphase Corp Earnings: Swing to a Loss

S&P 500 (NYSE:SPY) component JDS Uniphase Corporation (NASDAQ:JDSU) swung to a loss in the third quarter. JDS Uniphase 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 Third Quarter

Results: Reported a loss of $17.4 million (8 cents per diluted share) in the quarter. JDS Uniphase Corporation had a net income of $38.6 million or 16 cents per share in the year-earlier quarter.

Revenue: Fell 9.9% to $409.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: JDS Uniphase Corporation reported adjusted net income of 11 cents per share. By that measure, the company beat the mean estimate of 7 cents per share. It fell short of the average revenue estimate of $420 million.

Quoting Management: “Although we saw lower than expected revenue in the quarter due to later than anticipated carrier orders and global macro-economic uncertainty, I am pleased with the progress we made on our strategic priorities and bottom line results,” said Tom Waechter, JDSU’s President and Chief Executive Officer. “Our focus on operational execution led to operating margins at the high end of our guidance. We believe end-market drivers remain strong as our book to bill ratio exceeded one for the second consecutive quarter. Our differentiated products and solutions are well aligned with our customers’ needs,”

Key Stats:

The company has beaten estiamtes for two quarters in a row. In the second quarter, it topped expectations with net income of 6 cents versus a mean estimate of net income of 4 cents per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 20 cents a share to 17 cents over the last ninety days. At 47 cents per share, the average estimate for the fiscal year has fallen from 50 cents ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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