Updated from Nov. 2
surged 13% Friday after the optical component maker narrowed its first-quarter loss.
The Milpitas, Calif., company lost $17 million, or 8 cents a share, for the quarter ended Sept. 30, compared with a year-ago loss of $67 million, or 34 cents a share.
On a pro forma basis, excluding certain costs, the company made 3 cents a share in the latest quarter. Revenue rose to $318 million from $258 million a year earlier.
Analysts surveyed by Thomson Financial were looking for a penny-a-share profit on sales of $322 million.
"The achievement of positive earnings per share on a non-GAAP basis for the first time in more than five years marks another significant milestone on the company's journey to sustained profitability," said CEO Kevin Kennedy. "Our strong balance sheet, coupled with a firm commitment to innovation, ensures that JDSU will continue to enable the delivery of next generation optical and broadband service technologies."
Optical Communications net revenue rose 3.8% sequentially and 37% from a year ago to $138 million. Communications Test and Measurement revenue fell 7.5% sequentially to $116.8 million. Advanced Optical Technologies revenue rose 7.1% sequentially but fell 11% from a year ago to $39.3 million.
JDSU guided to second-quarter revenue of $332 million to $352 million, in line with the $342 million Wall Street target.
Shares rose $1.81 to $16.09.