Optical Space Moves Lower on Finisar Results

Shares of

Finisar CorporationFNSR

have traded down as much as 24.36 percent following

disappointing earnings and a weak profit forecast

. Finisar reported fourth quarter EPS of $0.36 versus the estimated $0.38, missing by $0.02. Revenue came in at $306.0 million versus the estimated $303.92 million. Management sees Q1 EPS of $0.30-0.40, versus the $0.41 analyst estimate. The company's

earnings report

is having an impact on the communications and networking sector.

An hour after the opening bell, Oplink Communications OPLK shares were down 1.37 percent.
Shares of EMCORE Corporation EMKR fell 3.83 percent.
Oclaro OCLR shares are down more than 4.5 percent
Shares of NeoPhotonics NPTN fell 4.7 percent.
Alliance Fiber Optics Products AFOP shares dropped more than 8.9 percent.

Oplink Communications currently leads the stocks, with shares down only 0.5 percent.

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