JDSU Profit Rises

JDSU (JDSU Quote) blew past targets and raised guidance.

The Milpitas, Calif. networking gearmaker posted an adjusted profit of $15 million or 7 cents a share for the fiscal fourth quarter ended June 30. That compares with pro forma earnings of $12.3 million or 6 cents a share in the in prior quarter.

Sales for the quarter were $350.8 million. That is down from the $361.7 million in revenue in the fiscal third quarters.

Analysts were looking for an adjusted profit of 4 cents a share on $338 million in sales, according to Reuters Research.

For the full fiscal year, JDSU booked pro forma earnings of $64.1 million, or $0.29 per share. Those numbers compare to an adjusted loss of $23.8 million, or 12 cents a share in fiscal 2006. Total sales for the year were $1.4 billion, up 16% from the $1.2 billion revenue level in fiscal 2006.

"Moving into 2008 we will continue to focus on execution across the company, gross margins, and advancing our business model," CEO Kevin Kennedy said in a press release Wednesday.

Looking ahead, the company says it expects sales in the fiscal first quarter to be about $352.5 million. Analysts had expected $347 million in revenue for the current period ending next month.

JDSU shares rose 24 cents to $14.60 in post-close action Wednesday.