JDS lifts forecast based on sales strength
(UPDATE: In U.S. dollars unless noted.)
Thursday October 26, 5:34 pm Eastern Time
OTTAWA, Oct 26 (Reuters) - JDS Uniphase Corp. (Toronto:JDU.TO - news) (NasdaqNM:JDSU - news), the world's No. 1 supplier of fiber-optic components, on Thursday raised its estimates for its second quarter and fiscal 2001, based on strong sales across its product line to a growing number of customers.
The company lifted its second quarter net earnings per share forecast to 19 or 20 cents from 17 cents a share, it also said revenue should grow in the high teen percentage range from the first to the second quarter.
JDS Uniphase, which reported first-quarter results on Thursday that beat expectations by 2 cents, also said 2001 revenues will be 115 to 120 percent over the $1.77 billion pro forma revenues of 2000, which includes revenues from its recently acquired E-Tek Dynamics.
JDS said its margin guidance is unchanged at 50 to 51 percent for gross margin and 28 to 30 percent for operating margins.
On Thursday, JDS reported first-quarter pro forma net income of $177 million, or 18 cents a share, on revenues of $786 million, up from $65 million, or 8 cents a share, on revenues of $290 million. The results include revenues from E-Tek Dynamics.
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