Scott Moritz
JDSU (JDSU Quote - Cramer on JDSU - Stock Picks) dazzled like a laser beam with strong second quarter numbers.
The optical networking parts maker posted an adjusted profit of $50.2 million or 22 cents a share in the fiscal second quarter ended Dec. 29. That is better than the $18 million or 8 cents of pro forma earnings in the prior period. Sales for the quarter were $399.2 million, up 12% over the previous quarter and 9% above the year-ago level. Analysts were looking for an adjusted profit of 12 cents on $386 million in sales. "We saw across-the-board metric improvement as we achieved our near-term operating model goals," CEO Kevin Kennedy said in a press release. "Looking forward, JDSU remains focused on innovation and continuous improvement of our business model," Kennedy continued. The Milpitas, Calif. laser maker says it expects sales to dip sequentially to about $391 million in the fiscal third quarter ending next month. That guidance is roughly in line with the $390 million analysts were expecting. JDSU shares surged $1.42, or 14%, to $11.58 in after-hours trading Tuesday.
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