NEW YORK (TheStreet) -- Oclaro (OCLR - Get Report) was falling -39.1% to $1.62 Wednesday after missing analysts' expectations in the fiscal third quarter, and guiding below estimates for the fourth quarter.
For the third quarter Oclaro reported a loss of -17 cents a share, missing the Capital IQ Consensus Estimate of a loss of -16 cents a share by 1 cent. Revenue fell -6.1% to $95.39 million in the quarter. Analysts expected revenue of $98.79 million for the quarter.
Looking forward to the fiscal fourth quarter Oclaro expects revenue of $90 million to $100 million. Analysts expected revenue of $103.8 million for the quarter.
"Oclaro, Inc. is a provider of optical communications and laser components, modules and subsystems for a range of markets, including telecommunications (telecom), industrial, scientific, consumer electronics and medical. The Company's product offerings include tunable laser, lithium niobate external modulators, pump laser chips, thin film filters, and amplifiers. The Company is a supplier of optical network technology to telecom equipment companies worldwide. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, amplify, combine and separate light signals in telecom networks. On July 23, 2012, the Company acquired Opnext, Inc. (Opnext). In November 2013, II-VI Inc announced that it has completed the acquisition of the fiber amplifier and micro-optics business (the Business) of Oclaro, Inc."