DOW JONES NEWSWIRES JDS Uniphase Corp. (JDSU) reported a sharply narrower loss in its fiscal third quarter--its ninth straight quarterly loss--on fewer charges as the maker of broadband products reported its highest quarterly bookings in two years. The company projected fourth-quarter revenue of $385 million to $410 million. Analysts, on average, expect $358 million, according to Thomson Reuters. But shares fell 8% after-hours to $12.61 as the latest quarter's revenue fell short of analysts' expectations. Nonetheless, Chief Executive Tom Waechter said, "The combination of the recovery in our markets, and our innovation and new product offerings are driving the strength of our customer demand." Some market analysts are predicting JDS and others in its sector will rebound as corporations plan to spend billions this year on information technology after the recession slowed spending. JDS completed the $165 million acquisition of a network solutions business from Agilent Technologies Inc. (A) earlier this week in an effort to expand into new markets. For the quarter ended March 31, JDS reported a loss of $11.9 million, or 5 cents a share, compared with a year-earlier loss of $101.7 million, or 47 cents a share. Excluding acquisition and other impacts, earnings fell to 10 cents from 12 cents. Analysts expected 9 cents in earnings. Revenue spiked 19% to $332.3 million. In February, the company forecast $325 to $350 million, which was above expectations. Gross margin rose to 40% from 36%. In the communications test and measurement segment, the company's largest, revenue rose 14%, and operating income increased 7%. In its communications and commercial optical products segment, which is involved in telecom and cable television, revenue was up 28%, and profit tripled. -By Shayndi Raice, Dow Jones Newswire; 212-416-2672; shayndi.raice@dowjones.com
