INKT was no longer up at a later scan.. but a whole lot of others were up. I use Bloomberg... its a separate monitor and station.
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10/26 18:36
JDS Uniphase Has 1st-Qtr Loss, Boosts 2001 Forecasts (Update2)
By Erik Schatzker
San Jose, California, Oct. 26 (Bloomberg) -- JDS Uniphase Corp., the biggest maker of fiber-optic components, said fiscal first-quarter sales rose 171 percent, more than expected, and boosted forecasts for sales and profit this fiscal year.
Sales rose to $786.5 million from $290 million a year ago, beating the average estimate of $755.9 million in a First Call/Thomson Financial poll of four analysts. The company's loss widened to $1.02 billion, or $1.07 a share, from $113.9 million, or 17 cents, because of acquisition-related costs.
JDS Uniphase shares had tumbled 27 percent this week as investors took slowing sales of fiber-optic equipment by Lucent Technologies Inc. and Nortel Networks Corp. as a sign of slack demand for components. They climbed as much as 12 percent after the company said it expects sales to increase 115 percent to 120 percent from $1.77 billion this fiscal year.
``Optical demand is good and healthy,'' said Robertson Stephens Inc. analyst Arun Veerappan, who rates JDS a ``buy.''
JDS Uniphase now expects to earn 80 cents a share, excluding costs for acquisitions, this fiscal year, Chief Financial Officer Tony Muller said on a conference call. Analysts polled by First Call had expected 70 cents.
Muller said JDS expects profit, on the same basis, of 19 cents to 20 cents a share in the second quarter, which ends in December. That compares with a First Call average of 17 cents a share.
JDS Uniphase shares rose as high as $83.63 after the new forecasts were disclosed. They had risen $3.44 to $74.44 in regular U.S. trading and tumbled as low as $70.56 after the earnings report was released. |
