JDS warns on 3Q, 4Q
Fiber optics supplier lowers earnings, sales guidance, uncertain on 2002
March 6, 2001: 6:53 p.m. ET
OTTAWA (Reuters) - Amid a weakening U.S. economy and waning customer demand, JDS Uniphase Corp., 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 (JDSU: Research, Estimates) 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: Research, Estimates), its largest customer. |
