EmailFinisar (FNSR $20.45 +1.86) reported first quarter earnings of $0.21
per share, excluding non-recurring items, $0.03 better than the Capital IQ
Consensus Estimate of $0.18.
Revenues rose 9.8% year/year to $228.2 million versus the $228.5 million
consensus.
For the second quarter, the company expects to see earnings of $0.20 to $0.24,
excluding non-recurring items, versus the $0.20 Capital IQ Consensus Estimate;
sees second quarter revenue in the range of $235 million to $$250 million versus
the $236.27 million Capital IQ Consensus Estimate.
Gross margin decreased to 29.1% of revenues from 34.1% in the first quarter of
the prior year and from 31.6% in the preceding quarter.
The company stated, "We expect production of this product to start to ramp
during the second quarter of fiscal 2012. In addition, on June 29, 2011, we
successfully closed our previously announced cash tender offer for the remaining
outstanding shares of Ignis ASA and now hold 100% of the outstanding shares of
Ignis."
than one year.
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