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Technology Stocks : Finisar - FNSR

FNSR 23.77

0.0%

Sep 24 5:00 PM EST

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From: Sr K	8/6/2013 6:47:51 PM
	1 Recommendation Recommended By Kirk © Read Replies (1) of 509

FNSR +18% AH 5:07PM Finisar guides Q1 above prior guidance/consensus FNSR 19.13 -0.88 : Co issues upside guidance for Q1 (Jul), sees EPS of $0.30 to $0.31, excluding non-recurring items, vs. $0.24 Capital IQ Consensus Estimate, exceeding the previously estimated range of $0.22 to $0.26; sees Q1 (Jul) revs of $266 mln vs. $253.40 mln Capital IQ Consensus Estimate and compared to guidance of $245 to $260 million. The revenue results are preliminary and subject to adjustment. However, in the absence of material adjustment, first quarter revenues will set a new record for the Company and will be the fourth consecutive quarter of sequential revenue growth. The growth in revenue came primarily from increased sales of 10G, 40G and 100G Ethernet transceivers for datacom applications. Approximately $2 million of the revenue growth over the prior quarter was from products for telecom applications. As a result of these higher than expected revenues, a favorable product mix and increased operating leverage, the Company expects non-GAAP gross margin to be 34.5% to 35%. stock is [was] halted

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