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12.08.2014 23:48:35

JDS Uniphase Profit Tops Estimate; Stock Down On Soft Outlook - Update

(RTTNews) - Communications solutions provider JDS Uniphase Corp. (JDSU), Tuesday reported a fourth-quarter loss, hurt by negative operating margin, while the prior year included tax benefits. Revenue advanced on growth at network service and optical products businesses, with results topping Wall Street estimates.

JDS provided a weak guidance for the first quarter, sending its shares down 4.3 percent in after-hours trade on the Nasdaq.

CEO Tom Waechter said there are strong market drivers across its business segments, and that JDS hopes to benefit from its differentiated products and solutions.

JDS provides communications test and measurement solutions, and optical products for those including telecommunications service providers, cable operators and network-equipment makers.

The Milpitas, California-based company posted a fourth-quarter net loss of $25.4 million or $0.11 per share. This compares with a profit of $92.5 million or $0.38 per share last year, when it recorded tax benefits of $113 million.

Excluding items, adjusted earnings for the quarter were $0.14 per share. On average, 16 analysts polled by Thomson Reuters estimated earnings of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the fourth quarter climbed to $448.6 million from $421.3 million in the prior year. Analysts estimated revenue of $436.8 million for the quarter.

Gross margin for the quarter improved to 46.7 percent from 44.2 percent last year. Operating margin was negative 3.7 percent, compared with negative 4.4 percent.

For the first quarter, JDS expects adjusted earnings of $0.08 to $0.12 per share and revenue of $405 million to $425 million. Analysts expect earnings of $0.14 per share on revenue of $440.9 million.

The company's stock closed Tuesday at $11.91, down $0.06 or 0.50%, on a volume of about 5 million shares. In after hours, the stock dropped $0.51 or 4.28% at $11.40.

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