Avanex (AVNX) soared 12% late Thursday after the optical-parts company posted a fiscal first-quarter revenue gain and boosted top-line guidance.
The Fremont, Calif., photonics outfit lost $10 million, or a nickel a share, compared with the year-ago loss of $17 million, or 12 cents a share. On a pro forma basis, excluding certain costs, the latest-quarter loss was 3 cents a share.
Revenue rose 12% sequentially and 23% from a year ago to $50.9 million.
Analysts surveyed by Thomson Financial were looking for a 2-cent loss on revenue of $49.2 million.
Gross margin rose to 9% from 4% a year ago, Avanex said.
Avanex said it expects second-quarter revenue of $52 million to $55 million, above the $51.8 million Thomson target.
Shares rose 19 cents to $1.71.