JDS Uniphase quarterly loss shrinks, shares rise as results beat Wall Street views

JDS Uniphase quarterly loss down, shares rise

MILPITAS, Calif. — JDS Uniphase Corp. reported a much smaller net loss for its fiscal second quarter than a year ago, when it recorded a big accounting charge.

The company’s sales fell, but the results were better than Wall Street expected, and its shares rose after it reported the results after regular trading closed Tuesday.

The maker of optical communications equipment and testing gear for communications companies, JDS Uniphase said it lost $19.5 million, or 9 cents per share, in the three months that ended Jan. 2.

A year earlier, it reported losing $722.9 million, or $3.36 per share, in large part due to a nearly $700 million write-down on the value of parts of its business.

Excluding one-time items, the company earned 12 cents per share in the latest period.

That tops the average forecast of analysts surveyed by Thomson Reuters for 9 cents per share, also excluding one-time items.

The company’s revenue fell 3 percent to $342.9. Analysts forecast revenue of $334.2 million.

JDS Uniphase predicted its revenue would be $325 million to $350 million in its fiscal third quarter. Analysts were expecting $323 million.

JDS Uniphase shares rose 28 cents, or 3.4 percent, to $8.57 in after-hours trading.

During the regular session, the stock closed at $8.36, up 20 cents or 2.5 percent. It rose another 25 cents, or 3 percent, to $8.61 in after-hours trading Tuesday.