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JDS Uniphase 4Q Net Soars On Higher Sales; 1Q Revenue View Weak

DOW JONES NEWSWIRES JDS Uniphase Corp.'s (JDSU) fiscal fourth-quarter profit jumped as the broadband-products maker's communications and optical products business continued to drive higher sales. However, shares fell 3.2% to $11.33 after hours as the company forecast a weak first-quarter top line between $400 million and $425 million. Analysts on average expected $470 million, according to a poll by Thomson Reuters. The stock was down 19% this year through the close. JDS--which makes products for telecommunications companies, cable operators and network-equipment manufacturers--has stayed in the black over the past year following more than two years of losses caused by a slump during the recession. Growing demand for the company's optical-components business has helped improve revenue in recent quarters. For the quarter ended July 2, JDS reported a profit of $9.3 million, or 4 cents a share, up from $1.5 million, or a penny a share, a year earlier. Excluding restructuring costs and write-downs, earnings rose to 23 cents a share from 15 cents. Analysts expected 23 cents a share. Revenue rose 21% to $471.8 million, coming in at the high end of the company's May forecast of $455 million to $475 million. Gross margin including write-downs of acquired technologies widened to 43.3% from 40.9%. Revenue rose 14% in the communications test and measurement segment, the company's largest. Revenue increased 29% in the communications and commercial optical products segment, which is involved in telecom and cable television. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; [email protected]

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