Associated Press
JDS Uniphase Narrows 3rd-Quarter Loss
Tuesday April 29, 6:06 pm ET
JDS Uniphase Reports It Has Narrowed Its Third-Quarter Loss
SAN JOSE, Calif. (AP) -- JDS Uniphase Corp. Tuesday reported a much narrower fiscal third-quarter net loss, as results last year were weighed down by goodwill amortization and other items.
The maker of fiber-optic parts late Tuesday posted a net loss of $136.8 million, or 10 cents a share, for the quarter ended March 31.
The latest results compared with a net loss for the same quarter last year of $4.34 billion, or $3.19 a share. The loss included $260.4 million in goodwill amortization costs, $2.87 billion in costs for the reduction of goodwill and $1.01 billion for reduction of other long-lived assets.
Excluding items, JDS reported a loss of $45 million, or 3 cents a share, compared with a loss of $44 million, or 3 cents a share, a year earlier.
Analysts surveyed by Thomson First Call expected a loss excluding items of 4 cents a share for the latest quarter.
Sales fell 37 percent to $165.7 million from $261.8 million.
The company, which maintains dual headquarters in Ottawa and San Jose, Calif., said it is continuing its restructuring activities.
JDS shares closed Tuesday up 14 cents, or 4.4 percent, at $3.30 on the Nasdaq Stock Market. Shares rose to $3.36 in after-hours trading, according to Island ECN. |
