Finisar (FNSR) Stock Down Today After Reporting Lower Quarterly Earnings Results

NEW YORK (TheStreet) -- Shares of Finisar Corp. (FNSR) are down 2.29% to $16.61 in pre-market trade after the provider of optical subsystems and components that are used in data communication and telecommunication applications reported a fiscal second-quarter loss of $11.4 million, or 11 cents per share, according to the Associated Press.

Earnings, adjusted for one-time gains and costs, were 23 cents per share. The results were below Wall Street expectations as the average estimate of analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The company posted revenue of $297 million in the period, also falling short of Street forecasts. Analysts expected $311.8 million, according to Zacks.


STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

For the current quarter ending in January, Finisar expects its per-share earnings to range from 23 cents to 27 cents.

The company said it expects revenue in the range of $297 million to $312 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $324 million.

Separately, TheStreet Ratings team rates FINISAR CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate FINISAR CORP (FNSR) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. 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 and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and a generally disappointing performance in the stock itself."

You can view the full analysis from the report here: FNSR Ratings Report

FNSR Chart FNSR data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Jim Cramer: Kimberly Clark's Quarter Was Better Than Procter & Gamble's

Jim Cramer: Kimberly Clark's Quarter Was Better Than Procter & Gamble's

Dow Makes Move Higher as Bond Yields Hover Near 3% Threshold

Dow Makes Move Higher as Bond Yields Hover Near 3% Threshold

The Stock Market Isn't Rigged, Just Look At The Odds (VIDEO)

The Stock Market Isn't Rigged, Just Look At The Odds (VIDEO)

Let the Najarian Brothers Help You Generate Income With Options

Let the Najarian Brothers Help You Generate Income With Options

All Investors Can Trade Options, Just Ask the Najarian Brothers WATCH VIDEO

All Investors Can Trade Options, Just Ask the Najarian Brothers WATCH VIDEO