Shares of fiber optic networking component vendor Finisar (FNSR) are down $1.15, or 4%, at $28.70 after the company said it will sell roughly 5% of its shares outstanding to cover working capital and general corporate needs.
The follow-on public offering of 3.6 million shares comes on the heels of an [...]
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Shares of fiber-optic component maker Finisar (FNSR) are up 86 cents, or 4.4%, at $20.63 after the company this afternoon reported fiscal Q2 revenue of $241 million and EPS of 44 cents, easily beating the consensus $229.7 million and 38 cents.
Finisar reached its target of 17% operating margin in the [...]
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Finisar (FNSR), a provider of fiber optic components and subsystems, this afternoon said revenue for its fiscal Q2 ended October 31 was in the $240 million to $241 million range, above its previous guidance of $215 million to $230 million.
The company now sees gross margin of about 35.5%, with non-GAAP [...]
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Finisar (FNSR) this morning said it has acquired Broadway Networks for an undisclosed amount of cash. The company said Broadway makes a “pluggable transceive” used in fiber networks. Finsar said the deal will not have a significant impact on revenue or profits in the near term. Broadway has offices in [...]
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Finisar (FNSR) shares are trading higher after hours on stronger-than-expected results for its fiscal first quarter ended August 1.
For the quarter, the company reported revenue of $207.9 million and a non-GAAP profit of 31 cents a share, above the Street at $201 million and 23 cents.
For FY Q2, the optical [...]
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In yet another example of how last night’s Cisco (CSCO) results are rippling through the market, Auriga USA analyst Chandan Sarkar this morning turned cautious on the networking hardware sector, downgrading his ratings on shares of Finisar (FNSR), Ciena (CIEN) and JDSU (JDSU) to Hold from Buy.
“After wondering for the [...]
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Finisar (FNSR) this afternoon reported revenue for its fiscal fourth quarter ended April 30 of $188.5 million and non-GAAP profits of 22 cents a share, beating the Street consensus at $183 million and 20 cents.
For FY Q1, the company expects revenue of $190 million to $205 million, ahead of the [...]
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The buzz at this week’s CTIA Wireless show in Las Vegas about the coming explosion of connected devices on the Internet seems to be levitating some network equipment plays – and optical component suppliers in particular,
Brian White, an analyst at Ticonderoga Securities, writes in a research note that most of the company he met with at the show expect higher capital ex by the carriers in 2010 on a global basis.
“The rise of the mobile Internet with the growth of more powerful smart phones and data intensive applications is driving a bottleneck in the network, a common theme that we believe will drive strong demand trends for IP-based networking vendors such as Cisco Systems (CSCO) and Juniper Networks (JNPR) in 2010 and beyond,” he writes.
During the course of the course of this week’s CTIA show, there has been one eye-opening projection after another about the coming explosion in mobile data; I particularly was impressed with Cisco CTO Padmasree Warrior’s prediction of a trillion Internet connected devices by 2013.
While most networking stocks are higher today, what’s really on a roll this morning are optical component players. In today’s trading:
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Finisar (FNSR) this afternoon said it filed to sell 7.2 million common shares. The optical networking products company said the offering provides for an over-allotment option of 1,080,000 shares, including 148,907 from selling holders.
In an SEC filing, the company said a portion of the proceeds could be used for repayment of outstanding debt or for acquisitions, and for working capital.
FNSR in late trading is down 31 cents, or 2.1%, to $14.50.
Article courtesy of BARRONS.com: Tech Trader Daily