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The Night Watch: JDS Uniphase Dives After Posting Results

The maker of optical components says first-quarter sales dropped 45% sequentially.

JDS Uniphase


was one of the biggest losers in Instinet trading during the extended session, as the company's shares slid 7.7% to $9.19 following the release of the optical-component maker's quarterly results.

After the close, the company said first fiscal quarter sales totaled $329 million, down 45% from $601 million in the fourth quarter. JDS posted a loss of $260 million, or 20 cents a share, excluding various items. Including all items, the company lost $1.2 billion, or 93 cents a share. The company pointed out that its income before items figure doesn't exclude the restructuring and other expenses associated with a cost-reduction and realignment program. Analysts were expecting a loss of 3 cents, but JDS didn't provide a comparable figure. A televised report was putting the loss at 5 cents for the quarter, excluding the realignment costs.


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, which posted earnings before items of $59.7 million, or 28 cents a share, in the third quarter, was off 6.6% to $49.83. Analysts were calling for earnings of 16 cents.

Volume was fairly heavy after hours, with around 2.5 million shares changing hands in the first 30 minutes of trading.


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