August 17, 2011 / 8:58 PM / in 6 years

UPDATE 2-JDS Uniphase forecasts weak Q1, sees bookings improving

(Adds conference call details, updates stock)

* Sees favourable booking trends in optical components business

* Q4 adj EPS 0.23 meets est

* Q4 adj rev $472.3 mln vs est $466.3 mln

* Sees Q1 adj rev $400-$425 mln vs est $470.3 mln

* Shares fall as much as 16 percent in extended trade

Aug 17 (Reuters) - JDS Uniphase Corp forecast weak first-quarter revenue on macro-economic challenges and inventory corrections but said booking trends were encouraging.

Shares of the company, which provides broadband and optical communication components, fell much as 16 percent to $9.80 in after-market trading on Wednesday, before recouping the losses.

The company expects first-quarter non-GAAP net revenue of $400-$425 million and operating margin to be 7.5-9.5 percent.

Analysts on average were expecting revenue of $470.3 million for the first quarter, according to Thomson Reuters I/B/E/S.

“General economic conditions and uncertainties, inventory corrections by our optical communications customers, and seasonally weak September quarter for our Comcast business segment are causing short-term volatility for us,” said Chief Executive Tom Waechter on a conference call.

“We do believe it’s a near-term issue as we see improving booking trend for our optical components business across the customer base and it is encouraging,” Waechter said.

For the fourth quarter, earnings rose to $9.3 million, or 4 cents per share, from $1.5 million, or 1 cent per share, a year ago.

The company, which competes with Finisar Corp , Oclaro Inc and Opnext Inc , said adjusted earnings came in at 23 cents a share.

Non-GAAP revenue rose 4 percent to $472.3 million.

Analysts on average had expected earnings of 23 cents a share, on revenue of $466.3 million.

Shares of the Milpitas, California-based JDS were down about 3 percent at $11.40 in after-market trade. They closed at $11.69 on Wednesday on Nasdaq. (Reporting by Rachana Khanzode in Bangalore; Editing by Sriraj Kalluvila and Gopakumar Warrier)

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