Investors Selling JDS Uniphase Shares As Co. Posts Q3 Miss
Shares of JDS Uniphase (NASDAQ: JDSU) are trading sharply lower, down by nearly 6 percent to $11.93, after the company reported third-quarter earnings per share.
Earnings per share came in at $0.10, compared to analyst estimates of $0.11. Revenue was reported at $418 million, missing estimates of $431.73 million. Revenue increased 3 percent year over year.
For the fourth quarter of fiscal year 2014, the company expects non-GAAP net revenue to be $425 to $445 million, below analyst estimates of $459 million.
"Our fiscal third quarter revenue was impacted by later-than-expected carrier orders, but we are encouraged by a strong bookings performance and believe positive industry trends will drive improved top-line growth in our fiscal fourth quarter," said President and Chief Executive Officer Tom Waechter.
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