Finisar Q4 Profit Misses Estimate; Guides Q1 Earnings Below Consensus

(RTTNews) - Finisar Corp. (FNSR) reported net income for the fourth quarter of $28.4 million or $0.27 per share, compared to $3.9 million or $0.04 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $37.0 million or $0.36 per share, compared to $19.8 million or $0.20 per share in the prior year quarter.

Revenue for the fourth quarter rose to $306.03 million from $243.42 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.38 per share on revenue of $303.20 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts revenue of of $320 million to $335 million and adjusted earnings of $0.30 to $0.34 per share. Analysts currently expect the company to earn $0.41 per share on revenue of $316.96 million for the first quarter.