UPDATE 1-JDS Q3 revenue misses Street view

giovedì 1 maggio 2008 00:21
 

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April 30 (Reuters) - Telecoms equipment maker JDS Uniphase Corp JDSU.O posted lower-than-expected quarterly revenue as growth at its communications test and measurement segment slowed and also forecast fourth-quarter revenue below market estimates, sending its shares down almost 10 percent.

Net revenue from communications test and measurement rose only 1.1 percent in the third quarter to $169.3 million, compared with a 28 percent growth recorded a year ago.

The segment accounted for 44 percent of the total quarterly non-GAAP revenue of $384.2 million.

Third-quarter net loss narrowed to $6.2 million, or 3 cents a share, from a net loss of $14.2 million, or 7 cents a share, a year earlier. Revenue rose 6.1 percent to $383.9 million on a GAAP basis.

Excluding items, the company earned 14 cents a share.

Analysts expected earnings of 14 cents a share, excluding exceptional items, on revenue of $393.6 million, according to Reuters Estimates.

For the fourth quarter, the company forecast net revenue of $381 million to $403 million, excluding items. Analysts were looking for $405.8 million. JDS stock fell $1.39 to $12.92 in trading after the bell. It closed at $14.31 Wednesday on Nasdaq. (Reporting by John Tilak in Bangalore; Editing by Himani Sarkar)