Thursday, June 16, 2011 12:07:00 PM
By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) — Optical-networking companies, which are typically among the most-volatile in all of the tech sector, found themselves facing the ire of investors Thursday following a disappointing earnings report and quarterly outlook from Finisar Corp.
Finisar FNSR -16.81% shares fell $3.48, or almost 20%, to $14.33 after the company said late Wednesday that it earned $16.4 million, or 17 cents a share, on revenue of $236.9 million. Excluding one-time items, Finisar would have earned 33 cents a share, to meet the estimates of analysts surveyed by FactSet Research.
FNSR 14.75, -2.98, -16.81%
5040302010
JASON11FMAMJ
However, analysts had also forecast Finisar to post sales of $242.8 million. And for its current, fiscal first quarter, Finisar said it expects to earn between 16 cents and 20 cents a share, on revenue of $221 million to $236 million, far below analysts’
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM