Finisar Beats Estimates; Provides Q1 Guidance Above Consensus (FNSR)

released its fiscal fourth-quarter earnings results on Wednesday after the closing bell. The company reported both earnings per share and revenue that was ahead of Wall Street estimates. Finisar also provided strong first-quarter guidance, with expected EPS above current consensus estimates. In late trading, the stock was last trading up more than 9 percent to $15.87.

Finisar reported net income of $3.9 million or $0.04 per share, compared to $18.0 million or $0.19 per share, in last year's corresponding period. On an adjusted basis, net income was $19.8 million or $0.20 per share. This came in ahead of Wall Street analysts' consensus EPS estimates of $0.17 by three cents. Sales for the quarter were $243.42 million compared to $239.91 million last year. This also beat consensus revenue estimates of $242.60 million.

Looking forward to the fiscal first-quarter, Finisar guided for adjusted EPS of $0.22 to $0.26 on revenue of $245 million to $260 million. This compares to current consensus estimates calling for EPS of $0.20 on revenue of $248.94 million for the first-quarter.