Tags: Orders | JDS | Uniphase | Results

Delay in Orders Hurts JDS Uniphase Results

Wednesday, 30 Apr 2014 05:29 PM

JDS Uniphase Corp., a maker of communication and networking equipment, posted weaker-than-expected quarterly results due to a delay in orders, and the company forecast current-quarter results below analysts' estimates.

JDS Uniphase's shares sank in extended trading after the news Wednesday.

"Our fiscal third quarter revenue was impacted by later-than-expected carrier orders," Chief Executive Tom Waechter said in a statement.

JDS Uniphase forecast adjusted profit of 10-14 cents per share and revenue of $425 million to $445 million for the fourth quarter ending June 28.

Analysts on average were expecting earnings of 17 cents per share on revenue of $459 million, according to Thomson Reuters I/B/E/S.

JDS Uniphase's net loss narrowed to $1.5 million, or 1 cent per share, in the third quarter ended March 29 from $28 million, or 12 cents per share, a year earlier.

Excluding items, the company earned 10 cents per share.

Revenue rose 3 percent to $418 million.

Analysts on average had expected a profit of 11 cents per share on revenue of $431.7 million.

At 5:30 p.m. in New York, JDS Uniphase's shares were down 6.6 percent at $11.84, after closing the regular Nasdaq session at $12.67.

© 2017 Thomson/Reuters. All rights reserved.

   
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JDS Uniphase Corp., a maker of communication and networking equipment, posted weaker-than-expected quarterly results due to a delay in orders, and the company forecast current-quarter results below analysts' estimates.
Orders, JDS, Uniphase, Results
192
2014-29-30
Wednesday, 30 Apr 2014 05:29 PM
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