Oclaro: Fiscal 1Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Oclaro Inc. (OCLR) on Thursday reported fiscal first-quarter earnings of $10.2 million.
The San Jose, California-based company said it had profit of 6 cents per share. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The optical communications company posted revenue of $131.7 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $128.1 million.
Oclaro shares have risen 28 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.64, a climb of 40 percent in the last 12 months.