shares lost their shine late Thursday as fiscal second-quarter numbers came in less than brilliant.
The optical-networking-parts maker posted a net loss of $11.9 million, or 28 cents a share, for the quarter ended Dec. 31. Excluding one-time items, Bookham's pro forma net loss was 19 cents a share. Sales rose to $60.7 million from $45.8 million in the year-ago period but fell from $62.6 million in the prior quarter.
Analysts were looking for an adjusted loss of 18 cents a share on sales of $59.4 million in the most recent quarter.
Looking ahead, Bookham says declining orders from
won't be entirely offset by new sales from other customers. The company expects sales in the current quarter, ending April 1, will fall about 13% sequentially to $52.5 million.
Wall Street had been looking for a smaller decline, with revenue estimates around $58 million, according to Reuters Research.
"On the operations front, we continued to make significant progress moving our assembly and test operations to Shenzhen, China," CEO Dr. Giorgio Anania said in a press release Thursday.
Bookham shares were whipsawed Thursday, closing the regular session up 12% before falling 90 cents to $6.90 in postclose trading.