NEW YORK (TheStreet) -- Finisar (FNSR) was falling -6.9% to $17.10 after-hours Thursday after missing analysts' estimates for revenue in the fiscal first quarter, and guiding below estimates for the fiscal second quarter.
For the fiscal first quarter the fiber optics supplier reported earnings of 32 cents a share, in line with the Thomson Reuters consensus estimate. Revenue grew 23.1% year over year to $327.63 million for the quarter, compared to analysts' estimates of $328.66 million for the quarter.
Looking to the second quarter, Finisar expects earnings of 23 cents to 27 cents a share and revenue of $305 million to $320 million. Analysts expect earnings of 35 cents a share and revenue of $337.5 million for the quarter.
TheStreet Ratings team rates FINISAR CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FINISAR CORP (FNSR) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."