NEW YORK (

TheStreet

) --

Finisar

(SPLS)

, the optical networking equipment maker, said revenue rose 0.6% on a sequential basis in its fiscal third quarter ended Jan. 29.

  • Non-GAAP earnings: $21.9 million, or 23 cents a share, up from a $21.5 million, or 23 cents a share in the October-ended period;
  • Revenue: $243 million vs. a second-quarter total of $241.5 million
  • Analysts' expectations: earnings per share of 22 cents a share on revenue of $245 million;
  • Outlook: Finisar sees non-GAAP earnings of 18 to 22 cents a share in its fiscal fourth quarter ending in April on revenue of between $235 million and $250 million; Wall Street's current consensus estimate is for earnings of 25 cents per share on revenue of $253.5 million
  • Quote: "Sales of datacom products were strong. Gross margin was relatively unchanged from the preceding quarter, despite the impact of one month of the annual price reduction for telecom products. We held operating expenses below plan, so that operating income and operating margin increased relative to the preceding quarter," said Jerry Rawls, the company's executive chairman, in a statement.

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