Finisar: Fiscal 4Q Earnings Snapshot
SUNNYVALE, Calif. (AP) _ Finisar Corp. (FNSR) on Thursday reported a loss of $14.2 million in its fiscal fourth quarter.
The Sunnyvale, California-based company said it had a loss of 12 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 27 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The fiber optic component supplier posted revenue of $310.1 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $323.4 million.
For the year, the company reported that its loss widened to $53.2 million, or 45 cents per share. Revenue was reported as $1.28 billion.
Finisar shares have increased 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.27, an increase of 25% in the last 12 months.