JDS Uniphase Falls Short on Revenue Target

MILPITAS, CA (TheStreet) -- Shares of optical communications provider JDS Uniphase(JDSU) have fallen 2.5% to $9.97 in premarket trading, a day after reporting fourth-quarter results.

JDS Uniphase swung to a profit in the fourth quarter, but revenue came in below analysts' expectations. The company predicted first quarter non-GAAP net revenue of $410 million to $425 million vs. the Wall Street consensus estimate of $415.44 million.

The company said it expects a ramp-up in 4G deployments in the next fiscal year, as the company works with more than a dozen network equipment manufacturers and service providers around the world to accomplish this.

After Wednesday's market close, JDS Uniphase reported fourth-quarter net income of $1.5 million, or a penny a share, vs. net loss of $63.6 million or 29 cents a share a year ago.

Net income was 15 cents a share on a non-GAAP basis, vs. the average analyst target of 14 cents a share.

The company said it saw "robust" demand at all of its business segments during the quarter and the return to more typical pricing at its CommTest and Optical communications units.

Net revenue for the quarter was $390.9 million vs. net revenue of $273.2 million the year before. Analysts surveyed by Thomson expected revenue of $398.5 million.

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-- Written by Andrea Tse in New York.

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