<font color=green>JDS Uniphase results top forecasts by 2 cents
(UPDATE: In U.S. dollars unless noted.)
OTTAWA, Oct 26 (Reuters) - JDS Uniphase Corp. (Toronto:JDU.TO - news) (NasdaqNM:JDSU - news), the world's No. 1 supplier of fiber-optic components, said on Thursday its first-quarter net earnings beat analyst expectations by 2 cents.
In closely watched financial results that followed a meltdown in the fiber-optic sector, sparked by demand worries, JDS reported pro forma net income of $177 million, 18 cents a share, on revenues of $786 million. In the year-earlier quarter it posted pro forma net earnings of $65 million, 8 cents a share, on revenues of $290 million.
On average, 27 analysts polled by First Call/Thomson Financial expected net earnings of 16 cents per share, representing estimates 15 cents to 16 cents. The research firm said four analysts expected revenues of $755 million, based on estimates ranging from $747 million to $760 million.
Including merger and other one-time charges, JDS Uniphase reported a loss of $1 billion, or $1.07 per share.
JDS shares were up C$4.95 at C$116.50 late Thursday afternoon on the Toronto Stock Exchange.
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