NEW YORK (TheStreet) -- Oclaro (OCLR) - Get Report stock is up by 11.72% to $4.10 in early-morning trading on Wednesday, after the company reported better-than-expected 2016 second quarter earnings results.
After the market close on Tuesday, the San Jose, CA-based optical technology company reported earnings of 3 cents per share, while analysts were projecting for a loss of 1 cent per share.
Revenue of $94.1 topped analysts' forecasts for revenue of $91.3 million.
Strong growth in the company's 100G products helped drive 20% sales growth for the second consecutive quarter, Oclaro said.
"We continue to see robust demand for our 100G product portfolio combined with favorable market conditions," CEO Greg Dougherty said in a statement. "As we expand capacity in Asia, both for our current and new 100G products, we expect revenue growth in 2016 to continue."
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "sell" with a ratings score of D+. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been poor profit margins.
You can view the full analysis from the report here: OCLR