Finisar Q4 Profit Meets Estimate

(RTTNews) - Finisar Corp. (FNSR) reported net income for the fourth quarter of $7.3 million or $0.07 per share, compared to $28.8 million or $0.28 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $26.9 million or $0.25 per share, compared to $37.5 million or $0.36 per share in the prior year quarter.

Revenue for the fourth quarter rose to $320.04 million from $306.03 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.25 per share on revenue of $320.50 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecast revenues of $308 million to $328 million and adjusted earnings of $0.23 to $0.29 per share. Analysts currently expect the company to earn $0.27 per share on revenue of $318.04 million for the first quarter.