Finisar Results Miss Estimate; Q3 Outlook Weak

(RTTNews) - Fiber-optics company Finisar Corp (FNSR) Thursday reported second-quarter net loss of $11.4 million or $0.11 per share compared with a profit of $30 million or $0.29 per share last year.

Excluding items, adjusted earnings for the quarter were $0.23 per share compared with $0.43 per share a year ago.

Revenues for the quarter were $297 million compared with $290.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.25 per share on revenues of $315 million for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects earnings of $0.23 to $0.27 per share on revenues of $297 million to $312 million. Analysts expect earnings of $0.28 per share on revenues of $323.9 million.