Avanex (AVNX Quote) met targets but guided lower.
The optical networking systems maker posted an adjusted profit of $2.4 million or a penny a share in the fiscal second quarter ended last month. Those numbers were mostly flat with the prior quarter and up from a loss of $3.5 million or 2 cents a share a year ago. Sales for the quarter were $52 million, down 5% from the $54.7 million level in the prior quarter and 7% below the year-ago period. Analysts had expected a penny in pro forma profit on $52 million in sales, according to Yahoo Finance. "During the second quarter we demonstrated strength in our core business, achieved solid gross margins and generated over $6 million in cash from operations," CEO Jo Major said in a press release. Looking ahead, Avanex expects sales in the fiscal third quarter to be about $48 million. Analysts had been expecting about $52 million in revenue. Avanex shares closed at 95 cents Thursday.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,337.05 | 1,095.94 | 2,183.73 | 34.23 |
Oil *
72.45
|
|
UP
51.08
|
UP
4.01
|
UP
10.74
|
UP
0.31
|
10 Yr
3.42%
SPDR Gold
110.84
|
|
+0.50%
|
+0.37%
|
+0.49%
|
+0.91%
|
Data delayed 20 minutes |














