Yesterday, after the closing bell,
JDS Uniphase Corp.
) declared better financial results for the second quarter of
fiscal 2013 beating both the top and bottom lines of the Zacks
Quarterly net revenue was $429.4 million, up 4.9% year over
year and also above the Zacks Consensus Estimate of $425 million.
On a GAAP basis, quarterly net income from continuing operations
was $3.3 million or a profit of 2 cents per share compared to a
net loss of $7.7 million or 3 cents per share in the year-ago
quarter. However, quarterly adjusted (excluding special items)
earnings per share were 12 cents above the Zacks Consensus
Estimate by 2 cents.
Adjusted gross margin in the reported quarter was 44.1%
compared with 42.6% in the year-ago quarter. In the reported
quarter, operating expenses were $174.1 million, down 0.3% from
the prior-year quarter. Quarterly adjusted operating margin was
11.3% compared with 9.8% in the year-ago quarter. Total segment
operating income in the reported quarter was $49 million against
$40 million in the prior-year quarter.
At the end of the second quarter of fiscal 2013, JDS Uniphase
had $709.9 million of cash & marketable securities and zero
debt on its balance sheet compared with $921.6 million of cash
& marketable securities and no outstanding debt on its
balance sheet at the end of fiscal 2012. JDS Uniphase generated
$59.4 million of cash from operations in the previous
In the second quarter of fiscal 2013, Communications Test and
Measurement segment accounted for $195.4 million of revenue, down
0.4% year over year. Communications and Commercial Optical
Products segment generated $185.5 million, up 13.8% year over
year. Within this segment, Optical Communications revenue was
$155.6 million, up 12.7% from the prior-year quarter and
Commercial Lasers business revenue was $30.2 million, up 20.3%
from the prior-year quarter. Optical Security and Performance
segment generated the remaining $48.2 million revenue,
representing an annualized decline of 4%.
In the second quarter of fiscal 2013, the Americas segment
accounted for 49.9% of the total revenue, the EMEA segment
generated 23.8% and the remaining 26.3% came from the
For the third quarter of fiscal 2013, management expects the
company's non-GAAP revenue to be within the range of $405-$425
Currently, JDS Uniphasehas a Zacks Rank #2 (Buy).
Certain other companies belonging to the same industry are
Oplink Communications Inc.
). While Finisar is set to release its financial results on Mar
4, both Oplink Communications and Oclaro Inc. declared
second-quarter 2013 results, yesterday.
CONTL RESOURCES (CLR): Free Stock Analysis
JDS UNIPHASE CP (JDSU): Free Stock Analysis
OCLARO INC (OCLR): Free Stock Analysis Report
OPLINK COMMNCTN (OPLK): Free Stock Analysis
To read this article on Zacks.com click here.