JDSU shares jump after-hours on fiscal 2Q results
JDSU's fiscal 2nd-quarter profit, revenue beat market expectations, shares soar after hours
JDS Uniphase Corp.'s shares soared after hours Wednesday after the technology company reported a stronger-than-expected second quarter on improved revenue and margins.
The Milpitas, Calif.-based company's technology is used by communications companies to test the quality of their networks. It also makes optical transponders and other optical equipment used for sending information over fiber optic cables.
JDS earned $4.1 million, or 2 cents per share, for the quarter that ended Dec. 29. That is compared with a net loss of $10.2 million, or 4 cents per share, in the prior quarter. Excluding amortization, restructuring and other items, it earned 18 cents per share on an adjusted basis versus 16 cents per share in the prior year.
The company's revenue increased about 5 percent to $429.4 million from $409.3 million.
Analysts polled by FactSet were expecting the company to earn 14 cents per share on revenue of $424.2 million.
JDS said it expects adjusted revenue between $405 and $425 million for the current quarter. Analyst had forecast $412.7 million.
Shares increased $1.68, or nearly 14 percent, to $14.08 in after-hours trading on the news. Its shares fell 66 cents, about 5 percent, to close regular trading at $12.40.
