Finisar Corp (FNSR) Misses Q4 EPS by 2c; Guides Q1
Finisar Corp (NASDAQ: FNSR) reported Q4 EPS of $0.36, $0.02 worse than the analyst estimate of $0.38. Revenue for the quarter came in at $306.03 million versus the consensus estimate of $303.92 million.
"I am pleased to report that fourth quarter revenues were $306.0 million, and annual fiscal 2014 revenues were $1,156.8 million, both new all-time records for Finisar. Quarterly revenues increased by $12.0 million, or 4.1%, over the third fiscal quarter and $62.6 million, or 25.7%, over the fourth fiscal quarter of the prior year. Quarterly revenues grew for the seventh consecutive quarter. Annual revenues increased by $222.5 million, or 23.8%, over the prior fiscal year," said Jerry Rawls, Finisar's executive Chairman of the Board.
"Demand for transceivers operating at 10Gb/s and faster continued to be strong during the quarter. Demand was also strong for our transceivers for LTE wireless applications. We continue to develop and release new products, which we expect will enable Finisar to expand our market share and continue to grow revenue," said Eitan Gertel, Finisar's Chief Executive Officer.
GAAP gross margin decreased to 31.7% from 35.9% in the preceding quarter.
Finisar sees Q1 2015 EPS of $0.30 - $0.34, versus the consensus of $0.41 and revenue of $320 - $335 million, versus the consensus of $316.96 million.
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