JDS Uniphase (JDSU)

[DAD2]

CRAMER likes this....Long Term


* Q1 adj EPS of 4 cents beat estimates by 2 cents

* Q1 adj rev down 21 pct

* Sees Q2 sales of $320 mln-$345 mln

* Shares up 7 pct in extended trade

- Telecoms equipment maker JDS Uniphase Corp (JDSU.O) posted an adjusted quarterly profit that beat Wall Street expectations, helped by lower expenses and sequential growth across all segments.

"Our fiscal first quarter results represent growth across all of our business segments providing clear evidence of improving demand from our customers," Chief Executive Tom Waechter said in a statement.

For the first quarter ended Oct. 3, net loss rose to $31.9 million, or 15 cents per share, from a loss of $21.3 million, or 10 cents per share, a year earlier.

Excluding items, the company posted earnings of 4 cents a share. Adjusted revenue fell 21 percent to $298.6 million.

Analysts expected earnings of 2 cents a share, excluding exceptional items, on revenue of $291.8 million, according to Thomson Reuters I/B/E/S.

The company forecast second-quarter adjusted revenue of $320 million to $345 million.

Analysts were looking for revenue of $306.1 million.