NEW YORK (TheStreet) -- Shares of JDS Uniphase (JDSU) were falling 6.2% to $12.44 Friday after the communication equipment company missed analysts' estimates for earnings and revenue in the fiscal second quarter.
JDS Uniphase reported earnings of 15 cents a share for the fiscal second quarter, missing analysts' estimates of 16 cents a share for the quarter. Revenue fell 2.3% year over year to $437.1 million for the quarter, below analysts' estimates of $444.49 million.
Looking to the fiscal third quarter, JDS Uniphase said it expects earnings of 9 cents a share, plus or minus 2 cents (for a range of 7 cents to 11 cents), and revenue of $418 million, plus or minus $10 million (a range of $408 million to $428 million). Analysts' expect the company to report earnings of 14 cents a share and revenue of $431.3 million for the quarter.
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TheStreet Ratings team rates JDS UNIPHASE CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate JDS UNIPHASE CORP (JDSU) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share."
You can view the full analysis from the report here: JDSU Ratings Report