JDS post larger 3Q loss, cites delayed budgets

JDS Uniphase takes bigger 3rd-qtr loss, says testing, optical units hurt by budget delays

Associated Press

MILPITAS, Calif. (AP) -- JDS Uniphase Corp. on Wednesday reported a larger loss in the fiscal third quarter, and said revenue from some of its businesses was lower than it expected, because customers delayed their budget releases.

JDS Uniphase makes equipment for optical communications networks. Its technology is used by communications companies to test the quality of their networks. The company also makes optical transponders and other optical equipment used for sending information over fiber optic cables. Its total revenue grew 1 percent in the March quarter, as communications testing revenue fell 2 percent. Optical revenue grew 4 percent.

The company reported a loss of $28 million, or 12 cents per share, for the three months ended March 30. A year ago, JDS Uniphase took a smaller loss of $17.4 million, or 8 cents per share. Excluding one-time items JDS Uniphase said it earned 10 cents per share in the most recent quarter and in the year-ago quarter.

Revenue rose a fraction to $405.3 million from $403.3 million.

Analysts, on average, expected adjusted net income of 11 cents per share and $417.1 million in revenue, according to FactSet.

JDS Uniphase said communications testing revenue fell to $174.2 million and optical revenue rose to $179.2 million. Optical communications revenue grew 7 percent, but the company said the division was hurt by budget delays.

The company said it expects to report revenue of $420 million to $440 million in the fiscal fourth quarter. Analysts are projecting $446.7 million in revenue, on average.

Shares of JDS Uniphase lost 98 cents, or 7.3 percent, to end Wednesday's regular session at $12.52. The stock picked up 41 cents, or 3.3 percent, to $12.93 in aftermarket trading.

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