Finisar (FNSR) Tops Q1 EPS by 6c, Revenues Beat; Offers 2Q EPS Outlook Above Consensus, 2Q Revenue Mid-Point Outlook Below Consensus

Finisar (NASDAQ: FNSR) reported Q1 EPS of $0.18, $0.06 better than the analyst estimate of $0.12. Revenue for the quarter came in at $317.34 million versus the consensus estimate of $315.86 million.

“Revenues grew over the prior quarter and exceeded the mid-point of our guidance range, primarily driven by strength in demand for our wavelength selective switches. Gross margin also improved over the prior quarter and exceeded our guidance range due to favorable product mix,” said Michael Hurlston, Finisar’s Chief Executive Officer. “In addition, we were able to accelerate the process of bringing more focus to our product development efforts, which allowed the company to reduce relative expense levels faster than expected. In combination, this led to better earnings per share, exceeding the high end of our guidance range.”

GUIDANCE:

Finisar sees Q2 2019 EPS of $0.19-$0.25, versus the consensus of $0.18. Finisar sees Q2 2019 revenue of $315-335 million, versus the consensus of $332.99 million.

For earnings history and earnings-related data on Finisar (FNSR) click here.

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