FINISAR CORP (FNSR) Shares Jump 17 Percent
Shares of Finisar Corp. jumped more than 17 percent Thursday after the high-speed fiber optic equipment maker published its delayed second quarter results, and bargain hunters capitalized on a recent pullback in share price.
For the quarter ended Oct. 28, the company on Wednesday recorded a loss of $9.8 million or 3 cents a share, compared with a net loss of $30.3 million or 10 cents per share, in the second quarter of the previous year. Excluding extraordinary items, the company posted a profit of a penny per share.
Revenue fell 6.9 percent to $100.7 million.
Analysts, on average, expected earnings of a penny per share on revenue of $104 million.
For the quarter ended Oct. 28, the company on Wednesday recorded a loss of $9.8 million or 3 cents a share, compared with a net loss of $30.3 million or 10 cents per share, in the second quarter of the previous year. Excluding extraordinary items, the company posted a profit of a penny per share.
Revenue fell 6.9 percent to $100.7 million.
Analysts, on average, expected earnings of a penny per share on revenue of $104 million.
Labels: Finisar Corp., FNSR
posted by Stock Administrator @ 9:24 PM
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