finisar went after the china lte tower to base tranceivers which have very low margins. unfortunately,
they see this low end stuff growing faster than high end. telecom will be a DUD until metro 100G.
VZ cto said today that 100G metro is still a year or so out (gazettabyte).
this is fnsr's sandbag qtr for new options grants, also. all ocs's will suck wind now.
Shares of fiber-optic networking specialist Finisar (NASDAQ: FNSR ) fell as much as 20% in after-market trading today, following the release of disappointing fourth-quarter results.
Finisar's sales increased 26% year-over-year to $306 million, exceeding Wall Street's $303 million consensus estimate. On the bottom line, non-GAAP earnings landed at $0.36 per diluted share, up from $0.20 per share in the year-ago period. Here, analysts were looking for $0.38 per share.
Both earnings and sales fell within management's guidance ranges for the quarter, albeit below the midpoint of the earnings span.
In commentary on the quarter, management preferred to focus on discussing strong sales while avoiding the reasons behind the disappointing earnings. Adjusted earnings did not include an $8.3 million gain on the sale of Finisar Korea during the quarter. If included, this line item would have added $0.08 per share to the bottom line.
Looking ahead, Finisar expects first-quarter sales of approximately $327 million and adjusted earnings near $0.32 per share. That's a mixed bag, as analysts currently see earnings of $0.41 per share on roughly $317 million in sales for this period/
Finisar CEO Eitan Gartel sees further growth on the horizon, driven by higher-speed optical transceivers. "Demand for transceivers operating at 10Gb/s and faster continued to be strong during the quarter," Gartel said in a prepared statement. "Demand was also strong for our transceivers for LTE wireless applications."
I received the settlement documents in the mail last week.
so we get approx. 10-15c per share ( shares held back in 2010 )...
it appears this is how OCLARO is losing money. i.e to lawyers....no wonder the earnings are always below
expecatations. the 3.7 mill would have made the stock look very attractive............
Discussion of new management in May conference call transcript noting that there was a $3 million miss in revenue related to execution issues. The shorts piled into this miss as a reason to doubt the abilities of new management to execute on the plan. We can assume that the departure of the old COO relates to this situation.
"In order to strengthen our new product introduction and our execution ability for integrated products or line-site business, we welcome Dr. Richard Craig to the Oclaro Executive Team as President of the Integrated Photonics Division. Rich was formally the CEO of Sanford, the initial market leader for tunable lasers. He brings to Oclaro a wealth of telecom experience and a strong track record of executing on new product introduction. In his role he will be responsible for R&D, marketing, product line management, new product introduction, and business management for the Integrated Photonics Business.
We have consolidated line-site under operation under Jim Haynes, our Chief Operating Officer, who will also manage Oclaro's manufacturing strategy."
NEW YORK -- In an attempt to curry favor with regulators, AT&T Inc. said Tuesday that if it's allowed to buy satellite broadcaster DirecTV, it will be able to afford an expansion of fiber connections into more homes to boost their Internet connection speeds.
DirecTV's board of directors agreed last month to sell to AT&T for $48.5 billion, but the deal needs approval from regulators. Expanding broadband access and raising speeds is a federal policy goal, so AT&T's offer could interest regulators at the Federal Communications Commission.
AT&T said in a regulatory filing Tuesday that the DirecTV deal would enable it to upgrade 2 million additional locations to "Gigapower" fiber connections, and expand high speed broadband coverage overall to 13 million locations.
AT&T announced in April that it could build out Gigapower in 25 cities in its local-phone operating territory, depending on discussions with local authorities and projections of demand. It hasn't said how many homes and businesses that involves, making it difficult to assess the relative size of the newly proposed 2-million-location increase.
Today, AT&T supplies 16.5 million homes and businesses with fixed broadband connections.
Read more at the Sacramento BEE
Google is entering the US market with a major build out of their optical network for internet access, so this Google entry will affect the wireline internet access demand from the major US carriers.
Concerning the AT&T mobile network it continues to grow rapidly and there will need to be more optical capacity added for the new LTE Advanced services just starting in 2014.