Avanex (AVNX) Misses Q2 EPS by 10c, Guides Below for Q3 Revenues
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Avanex Corporation (Nasdaq: AVNX) reports Q2 loss of $0.40, 10 cents worse than the analyst estimate of ($0.30). Revenue for the quarter was $38.0 million, versus the consensus of $38.78 million.
The company expects revenue to be between $24 million and $31 million in the third quarter of fiscal 2009, ending March 31, 2009. Given the current recessionary macro-economic environment, there is less visibility than typical, and accordingly, the company’s guidance range is broader than normal. (Q3 revenue consensus is $38.88M)
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