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Technology Stocks : Finisar - FNSR

FNSR 23.77

0.0%

Sep 24 5:00 PM EST

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To: FJB who wrote (445)	9/11/2015 12:15:53 AM
From: Kirk ©	of 509

4:04 pm Finisar misses by $0.03, misses on revs; guides Q2 EPS below consensus, revs below consensus ( FNSR) : Reports Q1 (Jul) earnings of $0.23 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.26; revenues fell 1.9% year/year to $314 mln vs the $318.66 mln consensus. "Revenues for our first fiscal quarter were $314.0 million compared to $320.0 million in the prior quarter; however, the prior quarter had the benefit of an additional week. Taking that into consideration, the first fiscal quarter had a higher average weekly revenue relative to the prior quarter... Strength in revenue was primarily driven by 40 gigabit transceivers for datacom applications". Co issues downside guidance for Q2, sees EPS of $0.20-0.26 vs. $0.28 Capital IQ Consensus Estimate; sees Q2 revs of $304-324 mln vs. $327.87 mln Capital IQ Consensus Estimate. Co separately announced the departure of CEO Eitan Gertel; Executive Chairman Jerry Rawls to assume the title of Chief Executive Officer. From RTS at Message 30228623

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