Finisar (FNSR) Tops Q2 EPS by 12c; Guides Above the Street
Finisar (NASDAQ: FNSR) reported Q2 EPS of $0.58, $0.12 better than the analyst estimate of $0.46. Revenue for the quarter came in at $369.9 million versus the consensus estimate of $361.99 million.
Finisar sees Q3 2017 EPS of $0.58-$0.64, versus the consensus of $0.48. Finisar sees Q3 2017 revenue of $378-398 million, versus the consensus of $376.6 million.
"I am pleased to announce that Finisar achieved all-time quarterly records for revenues and profits in our second quarter. Revenues were $369.9 million, an increase of $28.5 million, or 8.4% over the first quarter. This growth was primarily driven by strong demand for 100G transceivers. In addition, customer demand for wavelength selective switch and ROADM line card products was strong. Our gross margins improved significantly due to a favorable product mix and leverage achieved from our vertical integration with larger volumes. The combination of revenues being at the higher end of our guidance range with higher gross margins resulted in earnings per fully diluted share above our guidance range," said Jerry Rawls, Finisar's Chief Executive Officer.
For earnings history and earnings-related data on Finisar (FNSR) click here.