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Technology Stocks : Finisar - FNSR
FNSR 23.770.0%Sep 24 5:00 PM EST
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From: Kirk ©3/2/2006 7:49:16 PM
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FNSR After Hours: $3.40 Up 0.49 (16.84%)

InPlay: Finisar beats by $0.03, beats on revs

Finisar Swings to 3Q Profit

Finisar Corporation Reports Profit for Third Fiscal Quarter Ended January 31, 2006

"We are proud of the progress we made in the third quarter," said Jerry Rawls, Finisar's President, CEO and Chairman. "We have been pointing to this quarter for more than a year as the one in which we would become profitable, at least on a non-GAAP basis. While we were able to generate a small non-GAAP profit earlier than expected in the second quarter, we are especially pleased that we were able to achieve our third quarter profitability goal. While our march to profitability has been a long and arduous path, we have remained steadfast in our commitment to delivering value to customers through focused R&D, in-house manufacturing and vertical integration. Our gross margins improved again this quarter from increased revenues and our relentless push for improved manufacturing efficiency and lower costs. In addition, we have laid the foundation for strengthening our balance sheet by generating almost $17 million of EBITDA last quarter and increased our cash balance by $21 million to $116 million."

Link for more FNSR Charts investment.suite101.com
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