JDSU Fails to Impress

The networking outfit slips after an in-line quarter.
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JDSU (JDSU) fell 4% late Wednesday after matching Wall Street targets.

The San Jose, Calif., networking-parts maker lost $42 million, or 3 cents a share, for the quarter ended Dec. 31, compared with a loss of $41 million, or 3 cents a share, a year ago. Excluding one-time items, the latest-quarter pro forma loss was $3.7 million, or less than a penny a share.

Sales for the quarter rose to $313 million from $180 million a year earlier. Analysts were looking for break-even results on sales of $312.6 million, according to Reuters Research.

"JDSU's second-quarter results represent our strongest revenue and earnings performance in more than four years, highlighting our continued commitment to innovation and expansion in concert with an aggressive cost reduction program," CEO Kevin Kennedy said in a press release.

For the current quarter ending March 31, the company expects flat sequential sales of about $312 million. That estimate is slightly above analysts' expectations, calling for a slight decline to $309 million.

JDSU shares, which have doubled since the company began its rebranding campaign back around Labor Day, fell 12 cents to $3.04 in after-hours trading Wednesday.