Finisar (FNSR) Q4 Results 'Solid'; Est. Raised - Needham & Company

June 20, 2013 8:17 AM
Needham & Company reiterated a Buy rating and $20 price target on Finisar (NASDAQ: FNSR) following Q4 'beat and raise' with gross margin the real story.

Analsyt Alex Henderson comments, "Finisar demonstrated solid cost controls and strong traction in the Data Comm Market. In addition, Finisar offered an upbeat outlook for the July quarter and expectations of improving conditions for the full year. Based on these comments and reported results, we are raising our estimates and reaffirming our Buy."

The firm:
  • maintained CY 13 revenues estiamtes despite the divestiture - equal to a $20-$25 million increase proforma
  • increased CY 13 EPS to $0.96 from $0.85
  • increased CY14 Revenues to $1,155 million from $1,141 mm
  • increased CY14 EPS to $1.20 from $1.08

    For an analyst ratings summary and ratings history on Finisar click here. For more ratings news on Finisar click here.

    Shares of Finisar closed at $14.52 yesterday, with a 52 week range of $10.95-$17.14.
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