JDS Uniphase 4Q Loss Widens As Revenue Dips 29 Pct

MILPITAS, Calif. (AP) — Communications equipment maker JDS Uniphase Corp. on Wednesday reported a wider fourth-quarter loss, felled by restructuring charges and a 29 percent decline in revenue as the economic slump curbed business equipment spending.

The company lost $59.5 million, or 28 cents per share, compared with a loss of $29.8 million, or 13 cents per share, in the same quarter a year earlier.

The latest period included $18 million in restructuring expenses. Excluding those one-time items, JDS Uniphase posted a loss of a penny per share.

Net revenue slipped to $276.1 million from $390.3 million.

JDS beat the 2-cents-per-share loss forecast by analysts polled by Thomson Reuters, excluding one-time items, but it fell just shy of the $278.6 million in revenue they expected.

The company said it had free cash flow of $9.7 million in the fourth quarter.

For the year, JDS reported a loss of $866.4 million, or $4.02 per share, which included $759.8 million in impairments, related to the decline in the company's market capitalization due to a depressed stock price in the current economic malaise. In fiscal 2008, JDS lost $21.7 million, or 10 cents per share.

Revenue fell by 15 percent to $1.29 billion.

For the first quarter, the Milpitas, Calif.-based company expects to bring in revenue of $283 million to $300 million. Wall Street is expecting $287.2 million, on average.

Shares of JDS fell 2 cents to close earlier at $5.79.