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JDS Uniphase 1Q Loss Widens But Results Top Views; Shares Up

DOW JONES NEWSWIRES JDS Uniphase Corp.'s (JDSU) fiscal first-quarter loss, its seventh in a row, widened amid a steep drop in revenue and slower sales in its communications test and measurement segment. In after-hours trading, shares climbed 5.4% to $6.40 as the results easily topped Wall Street estimates. The stock is up by two-thirds so far this year through Thursday's close. Chief Executive Tom Waechter said the results show evidence of improving demand from customers. JDS, like other makers of broadband products, has been hurt as telecom operators slow purchases and pull back information-technology spending. The company is particularly reliant on a handful of clients, including AT&T Inc. (T) and Verizon Communications Inc. (VZ). For the period ended Oct. 3, JDS's loss widened to $31.9 million, or 15 cents a share, from a year-earlier loss of $21.3 million, or 10 cents a share. Excluding restructuring, investment and other charges, earnings fell to 4 cents a share from 11 cents. Analysts polled by Thomson Reuters were looking for a profit of 2 cents. Net revenue fell 21% to $297.8 million, near the high end of the company's August forecast for revenue of $283 million to $300 million. Gross margin edged up to 39.5% from 39.4%. Revenue in the communications test and measurement segment, which makes up almost half of the company's sales, dropped 11% to $143.4 million. Looking ahead, JDS projected fiscal second-quarter adjusted revenue of $320 million to $345 million. Wall Street was looking for revenue of $306 million. -By Lauren Pollock, Dow Jones Newswires; 212-416-2356; lauren.pollock@dowjones.com

Stock News for Jds Uniphase (JDSU)
DateTimeHeadline
09/11/201416:57:39TECH STOCKS: JDSU, Pandora Lead Broad Tech Gains
09/11/201411:53:21TECH STOCKS: JDSU, Pandora Buck Tech's Weak Performance
09/11/201406:54:13MARKET SNAPSHOT: U.S. Stocks: Futures Pull Back; Jobless Claims...
05/28/201416:49:31TECH STOCKS: Twitter Rises As Other Tech Stocks Retreat
05/01/201411:11:09TECH STOCKS: JDS Uniphase Falls, But Yelp Rally Lifts Techs
12/12/201316:47:21TECH STOCKS: Ciena, Cisco, Facebook Highlight Mixed Tech Action
12/12/201314:29:50TECH STOCKS: Ciena Falls As Earnings Miss Estimates
11/15/201308:55:37Highbridge Capital Management 3Q 13F: Largest Eliminations
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Largest Purchases
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Largest Sales
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Largest -2-
11/15/201307:59:25Soros Fund Management 3Q 13F: Largest Purchases
11/15/201307:59:24Soros Fund Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:59:24Soros Fund Management 3Q 13F: Holdings As Of Sep -2-
11/15/201306:57:25Millennium Management 3Q 13F: Largest Eliminations
11/15/201306:57:17Millennium Management 3Q 13F: Largest Purchases
11/15/201306:57:17Millennium Management 3Q 13F: Largest Sales
11/15/201306:57:17Millennium Management 3Q 13F: Largest Eliminations -2-
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Largest Purchases -2-
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep 30

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