JDS Uniphase Plunges on Warning

By TSC Staff ,

JDS Uniphase (JDSU) was down 14% in preopen Island trading. After the close Thursday, the fiber-optics component maker warned that it expects a loss of 6 to 8 cents per share for its fourth quarter as it continues to get hit by the slump in telecommunications spending. The Thomson Financial/First Call estimate calls for a 5-cent profit.

JDS Uniphase said sales in the quarter will be $600 million, down from its earlier estimate of $700 million. The announcement marks the fourth time this year the company has reduced its financial targets.

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