JDSU (JDSU) met its fiscal fourth-quarter sales targets, but pegged first-quarter guidance below Street expectations.
The Milpitas, Calif., optical parts maker posted an adjusted loss of $2.1 million, or less than a penny a share. That compares with a pro forma loss of $2.8 million in the fiscal third quarter ended in April and a $20.5 million loss in the year-ago period.
Revenue in the quarter was $318.2 million. Analysts were looking for a breakeven quarter on sales of $314.2 million.
Looking ahead, JDSU says it expects sales in the fiscal first quarter to be about $320 million. That is below the analyst consensus expectation of $332.6 million, according to Reuters Research.
"We remain committed to further execution of our improvement programs throughout fiscal 2007, while at the same time continuing our investment and innovation in the broadband and optics markets," CEO Kevin Kennedy said in a press release.
The news of JDSU's lowered outlook caused other names to dip in after-hours trading. Optical component rival
fell 12 cents to $3.93 in post-close action Wednesday, while
slipped a nickel to $1.83.
JDSU shares fell 33 cents, or 13%, to $2.30 in postclose trading Wednesday.