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JDSU posts narrow Q4 profit

Thu, 08/26/2010 - 8:40am
The Associated Press

MILPITAS, Calif. (AP) – Optical networking equipment maker JDSU reported a narrow fiscal fourth-quarter profit late Wednesday as it posted revenue gains in its communications test and measurement and communications and commercial optical products segments.

For the three months ended July 3, the company reported net income of $1.5 million, or 1 cent per share, on $390.9 million in revenue. That compares with a net loss of $63.6 million, or 29 cents per share, on $273.2 million in revenue a year earlier.

Excluding items, JDSU reported earnings of 15 cents per share for the latest quarter.

Wall Street, on average, had expected the company to report earnings of 14 cents per share, excluding items, on $398.5 million in revenue for the quarter, according to a survey of analysts polled by Thomson Reuters.

JDSU said communications test and measurement revenue rose 40 percent, and communications and commercial optical products revenue rose 74 percent, year-over-year.

For the full fiscal 2010 year, JDSU reported a net loss of $61.8 million, or 28 cents per share, on $1.36 billion in revenue. That compares with a net loss of $909.5 million, or $4.22 per share, on $1.28 billion in revenue for fiscal 2009.

Excluding items, the company reported net income of 41 cents per share for the year.

Wall Street, on average, had expected JDSU to report earnings of 40 cents per share, excluding items, on $1.37 million in revenue for the quarter, according to a survey of analysts polled by Thomson Reuters.

Looking ahead, JDSU said it expects revenue excluding special items of $410 million to $425 million for its fiscal 2011 first quarter, which ends Oct. 2.

Shares of the Milpitas, Calif., closed at $10.22 in regular trading Wednesday.

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