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Model N, Inc. Message Board

susanne8987 1 post  |  Last Activity: Sep 4, 2014 4:17 PM Member since: Dec 26, 1998
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  • susanne8987 by susanne8987 Sep 4, 2014 4:17 PM Flag

    Finisar Announces 7% Revenue Growth Over Prior Quarter
    SUNNYVALE, CA -- (Marketwired) -- 09/04/14 -- Finisar Corporation (NASDAQ: FNSR), a global technology leader for subsystems and components for fiber optic communications, today announced financial results for its first quarter of fiscal 2015, ended July 27, 2014.

    COMMENTARY

    "I am pleased to report that first quarter revenues were $327.6 million, a new all-time record for Finisar. Quarterly revenues increased by $21.6 million, or 7.1%, over the fourth fiscal quarter of fiscal 2014. Quarterly revenues grew for the eighth consecutive quarter," said Jerry Rawls, Finisar's executive Chairman of the Board.

    "While demand for our transceivers that address wireless applications was very strong in the first quarter, demand for these products is now expected to decrease in the second quarter. We expect the demand to return and revenues to increase sequentially for these products in the third quarter. As a result of this decrease in demand for wireless transceivers, as well as a decrease in demand for telecom products due to soft carrier spending and a decrease in demand from several datacom customers with lumpy order patterns, we expect our overall revenues to decline in the second fiscal quarter," said Eitan Gertel, Finisar's Chief Executive Officer.

    Sentiment: Buy

MODN
9.89-0.07(-0.70%)Sep 23 4:05 PMEDT

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