JDS cuts forecast amid weak sales outlook
(All figures in U.S. dollars unless noted.)
Ottawa, March 6 (Reuters) - Amid a weakening U.S. economy
and waning customer demand, JDS Uniphase Corp. <JDU.TO>
<JDSU.O>, the world's No. 1 supplier of fiber-optic components
lowered its guidance on Tuesday for the third and fourth
quarter.
The company said it expects third-quarter pro forma
earnings per share of 14 cents and revenues of $925 million,
below the firm's previous forecast of earnings of 17 cents per
share.
JDS said it expects fourth-quarter results to match or
slightly exceed third-quarter earnings, at 14 cents a share or
slightly higher, with sales of $925 million.
"These numbers are within the range of current analyst
estimates although they are below our prior guidance," said JDS
chief financial officer Anthony Muller in a webcast
presentation to merchant banker Thomas Weisel Partners.
The company would not provide guidance for fiscal 2002 due
to uncertainty over sales growth.
JDS, which lowered its third-quarter forecasts after
acquiring SDL Inc. last month, later told Reuters it understood
analysts cutting their forecasts even further below guidance
amid a spending slowdown underscored by a dramatic warning by
Nortel Networks Corp. <NT.TO> <NT.N>, its largest customer.
($1=$1.54 Canadian)
((Susan Taylor, Reuters Ottawa Newsroom, 613-235-8385,
e-mail susan.taylor1@reuters.com, fax 613-235-5890))
REUTERS
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