JDS Uniphase Profit Tops Estimates, Outlook Weak; Stock Down 4%

(RTTNews) - JDS Uniphase Corp (JDSU) on Thursday reported third-quarter net loss of $13.2 million or $0.06 per share compared with a loss of $1.5 million or $0.01 per share last year.

Excluding amortization costs and other one-time items, adjusted earnings for the quarter were $0.12 per share compared with earnings of $0.10 per share a year ago.

Revenues for the quarter were lower at $410.7 million compared with $418 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.09 per share on revenues of $418 million for the quarter. Analysts' estimates typically exclude special items.

The results were despite muted carrier spending that impacted the network and service enablement businesses, said CEO Tom Waechter.

Gross margin for the quarter improved to 44.9% from 44.2% a year ago. Operating margin was a negative 5.4% versus a negative 2.8% last year.

For the fourth quarter, the company expects adjusted earnings of $0.09 to $0.13 per share on revenues of $413 million to $433 million. Analysts expect earnings of $0.16 per share on revenues of $444.4 million.

JDS Uniphase provides network and service enablement solutions and optical products.