{"id":47076,"date":"2013-09-06T07:04:00","date_gmt":"2013-09-06T07:04:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/finisar-corp-provides-upbeat-q2-guidance\/47075\/"},"modified":"2013-09-06T07:04:00","modified_gmt":"2013-09-06T07:04:00","slug":"finisar-corp-provides-upbeat-q2-guidance","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/finisar-corp-provides-upbeat-q2-guidance\/47076\/","title":{"rendered":"Finisar Corp. Provides Upbeat Q2 Guidance"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>Finisar Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=FNSR\" target=\"_blank\" rel=\"noopener\">NASDAQ: FNSR<\/a>) said after the market close on Thursday that it swung to a\u00a0 fiscal first quarter profit, aided by double digit revenue growth and wider gross margin.<\/p>\n<p><span id=\"more-47076\"><\/span><\/p>\n<p>Shares climbed 6.44% in aftermarket hours on Thursday as results exceeded Finisar\u2019s own guidance. The Company also handed upbeat guidance for the current quarter.<\/p>\n<p>For the fiscal second quarter, Finisar anticipates earnings to be in the range of 37 cents to 41 cents a share on revenue of $277 million to $292 million.<\/p>\n<p>Analysts\u2019 consensus estimate was for earnings of 31 cents a share on revenue of $273 million, according to a data compiled by Thomson Reuters.<\/p>\n<p>The Company\u2019s top line growth has been under pressure since last few quarters due to sluggish demand from some of its telecom equipment buyers, which in turn hurt the bottom line.<\/p>\n<p>However, revenue in the latest period rose sharply, thanks to increased demand for 10G, 40G and 100G Ethernet transceivers used in datacom applications.<\/p>\n<p>For the fiscal first quarter ended July 28, the Sunnyvale California based company posted a net income of $26 million or 26 cents a share compared to a net loss of $6.2 million or 7 cents a share, in the year-earlier quarter.<\/p>\n<p>Stripping out onetime items such as stock based compensation and inventory related charges, the adjusted earnings stood at 31 cents a share up from 12 cents a share.<\/p>\n<p>Revenue climbed 21% to $266.1 million.<\/p>\n<p>Earlier in June, the Company provided earnings guidance of 22 cents to 26 cents a share on revenue of $245 million to $260 million, which was below street\u2019s consensus estimate, at that time.<\/p>\n<p>Gross margin improved to 34.3% from 26.2%.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/finisar-corp-provides-upbeat-q2-guidance\/47076\" data-title=\"Finisar Corp. Provides Upbeat Q2 Guidance\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130910003027js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/john-wiley-sons-maintain-full-year-outlook\/47138\"><br \/>\nJohn Wiley &#038; Sons Maintain Full-Year Outlook<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/koch-industries-to-acquire-molex-for-7-2-billion\/47137\"><br \/>\nKoch Industries To Acquire Molex For $7.2 Billion<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-futures-almost-flat-silver-slips\/47135\"><br \/>\nGold Futures Almost Flat, Silver Slips<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-higher-in-mid-day-trading-dow-crosses-15000-level\/47132\"><br \/>\nStocks Higher in Mid-Day Trading, Dow Crosses 15,000 Level<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-higher-in-early-trade-2\/47129\"><br \/>\nStocks Higher in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-edges-down\/47127\"><br \/>\nForex Market Update: Dollar Index Edges Down<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-ease-slightly-silver-prices-slip-as-well\/47120\"><br \/>\nGold Prices Ease Slightly, Silver Prices Slip As Well<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130910003027im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script--><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Finisar Corporation (NASDAQ: FNSR) said after the market close on Thursday that it swung to a\u00a0 fiscal first quarter profit, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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