Finisar ( FNSR) shares jumped 15% in late trading Thursday after the company posted better-than-expected results for its fiscal third quarter. Finisar, which makes fiber-optic systems for high-speed data networks, said it swung to a third-quarter profit of $8.3 million, or 3 cents a share, from a year-earlier loss of $33 million, or 15 cents a share. Excluding certain items, earnings also were 3 cents a share, compared with a year-earlier loss of 4 cents a share. Analysts polled by Thomson First Call expected roughly break-even results on this basis. Revenue for the quarter ended Jan. 31 jumped to $93.5 million from $73.1 million. Two analysts had an average estimate for revenue of $90.2 million. Finisar also benefited from improved gross margins, which rose to 38.8% from 29.8% a year earlier. Shares traded up 44 cents after hours to $3.35. Source Interlink ( SORC) shares jumped after the entertainment-product merchandising company said it is exploring strategic options. The company hired an affiliate of Yucaipa Cos. to serve as a consultant in the process. Yucaipa is an affiliate of AEC Associates -- Source Interlink's largest shareholder. Source Interlink shares were up 68 cents, or 6.7%, to $10.84 in after-hours trading. Shares of Novell ( NOVL) dropped after its second-quarter guidance fell short of expectations. The Linux software company said earnings available to common shareholders for its first quarter was $2 million, or less than 1 cent a share. A year earlier, earnings were $392 million, or 90 cents a share, including a $448 million gain. Excluding items, the company posted earnings for the latest quarter of 4 cents a share, topping analysts' mean estimate by a penny. Sales fell to $274 million from $290 million, but beat Wall Street's target of $269.3 million. Novell predicts second-quarter earnings of 2 cents to 3 cents a share on sales of $272 million to $282 million. Analysts project earnings of 4 cents a share and revenue of $282.2 million. Novell sank 67 cents, or 7%, to $8.86 after hours.
InterVideo ( IVII) fell after posting a fourth-quarter earnings drop. The maker of DVD software posted net earnings of $215,000, or 1 cent a share, compared with earnings of $3.8 million, or 25 cents a share, a year earlier. Excluding various charges, Intervideo earned $3 million, or 20 cents a share. Revenue rose to $30.7 million from $20.4 million. One analyst polled by First Call expected earnings of 18 cents a share and revenue of $30 million. Shares fell 80 cents, or 7.1%, to $10.40 in after-hours trading. Credence Systems ( CMOS) shares were lower even after the company posted better-than-expected first-quarter results. The company's loss for the quarter ended Jan. 31 narrowed to $4 million, or 4 cents a share, from $36.3 million, or 41 cents a share, a year earlier. Excluding charges, Credence recorded a profit of $2.2 million, or 2 cents a share, better than analysts' mean estimate for a loss of 1 cent a share. The company's sales rose to $118.2 million from $93.9 million. Wall Street expected sales of $115.4 million. For the second quarter, Credence forecast earnings of 4 cents to 5 cents a share, before items. The company expects sales of $124 million to $126 million. Analysts predict earnings of 5 cents a share and revenue of $124 million. Shares were down 25 cents, or 2.8%, to $8.60 in late trading.