August 13, 2013 / 8:24 PM / in 5 years

JDS Uniphase revenue falls on weak demand for optical components

(Reuters) - Network testing company JDS Uniphase Corp reported lower-than-expected quarterly revenue due to weak demand for optical components from telecom customers, and forecast current-quarter revenue well below analysts’ estimates.

The company forecast first-quarter revenue in the range of $410 million to $430 million, while analysts were expecting $432.8 million on average, according to Thomson Reuters I/B/E/S.

Revenue from the company’s communications test and measurement business fell 3.3 percent to $189.8 million during the fourth quarter.

JDS Uniphase makes instruments and test tools used to help deploy and optimize communications equipment and broadband networks for customers such as AT&T Inc, Time Warner Cable Inc and Verizon Communications Inc.

Sales at the optical products business, its other major division, also fell about 1.5 percent to $182.3 million. JDS Uniphase’s optical communications products are used by network equipment makers such as Cisco Systems Inc.

For the three months ended June, overall revenue was down 3 percent at $421.3 million, below the $430.6 million analysts had expected.

Rival Finisar Corp had raised its current-quarter forecast on August 6, citing higher sales of its fiber optic products.

JDS Uniphase reported a profit of $92.5 million, or 38 cents per share, for the fourth quarter, compared with a loss of $22.2 million, or 10 cents per share, a year earlier.

Excluding one-time items, it earned 13 cents per share, in line with analysts’ expectations.

The company’s shares fell 3 percent after market. They had closed at $14.80 on the Nasdaq.

Reporting by Neha Alawadhi, Supantha Mukherjee and Aditya Kondalamahanty in Bangalore; Editing by Sreejiraj Eluvangal

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