“MILPITAS, Calif. (AP) — JDS Uniphase Corp., which makes communications equipment for telecom and cable companies, said Wednesday that it swung back to a fiscal third-quarter profit on stronger demand for its products.
Shares of the company, whose results beat analyst forecasts, rose nearly 10 percent in extended trading.
For the quarter that ended April 2, JDS Uniphase earned $38.6 million, or 16 cents per share, compared with a loss of $11.9 million, or 5 cents per share, in the year-ago quarter.
Excluding one-time items, the company earned 22 cents per share, which is 2 cents more than what analysts polled by FactSet had forecast.
Revenue climbed 86 percent to $454 million from $332.3 million last year, also edging above analysts’ $448 million estimate. The company said a strong mix of new products helped it gain market share in the optical communications and test and measurement markets.
For the fourth quarter ending July 2, the Company expects net revenue in the range of $455 million to $475 million.
JDS shares rose $1.92 to $21.86 in after-hours trading. The stock had finished regular trading down 27 cents at $20 before the report.”
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