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Soft Guidance Sinks Oplink

The company expects a loss of 1 cent or 2 cents a share in the second quarter.
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skidded late Tuesday after the company guided down second-quarter results and said a previously announced acquisition won't go through.

The company expects to lose 1 cent or 2 cents a share on revenue of $8.0 million to $8.1 million in the three months to Jan. 2. Analysts surveyed by Thomson First Call had been hoping for bottom-line break-even on sales of $9.0 million.

The company blamed a sales decline among certain customers as a result of manufacturing-related problems at its China facilities. It says the problems have been fixed.

Oplink said its previously announced acquisition of EZconn has been terminated due to "recent market changes." Oplink will collect a $2 million termination fee.

The stock fell 11 cents, or 7%, to $1.47 after hours.