Opnext posts smaller 4th-quarter loss, but revenue also slips

Opnext posts smaller 4Q loss

FREMONT, Calif. — Opnext Inc., a maker of fiber-optic communication network products, said its fiscal fourth-quarter net loss narrowed from a year earlier, when results included hefty goodwill impairment expenses and other items.

For the three months ended March 31, the company on Wednesday posted a net loss of $18.3 million, or 20 cents per share, compared with a loss of $118.8 million, or $1.39 per share, in the same period a year earlier.

The latest quarter’s adjusted loss was 16 cents per share.

Revenue fell 8 percent to $76.8 million from $83.6 million.

Analysts, on average, were expecting a loss of 17 cents per share, excluding items, on revenue of $76.8 million, according to a survey by Thomson Reuters.

The year-ago quarter included goodwill impairment expenses of $62 million related to its acquisition of StrataLight Communications Inc. The latest quarter had no such costs.

The company expects revenue between $80 million and $85 million for the fiscal first quarter ending June 30. Analysts are expecting $83.1 million.

Shares fell 9 cents, or 3.9 percent, to $2.21 in morning trading. The stock has traded between $1.68 and $3.30 in the past 52 weeks.