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Technology Stocks : Mellanox Technologies, Ltd.

MLNX 124.89

0.0%

Apr 27 5:00 PM EST

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From: w0z	12/9/2016 4:29:32 AM
	of 954

Finisar Corp. on Thursday said profit for its latest quarter jumped more than sevenfold and the fiber-optics company posted better than expected earnings. The company said that growth in the quarter was powered mostly by demand of 100G transceivers. Shares rose 1.2% to $34.79 in after-hours trading. For the current quarter the company said it expects revenue between $378 million and $398 million with adjusted earnings on a per-share basis in the range of 58 cents to 64 cents. The company's outlook is stronger than the expectations of analysts surveyed by Thomson Reuters who expect earnings of 48 cents on $378.6 million in revenue. Finisar, which went public in 1999, has benefited from strong demand for cloud services, which drives networking hardware upgrades. Over all, Finisar reported profit of $48.8 million, or 43 cents a share, compared to $6.6 million, or 6 cents a share, a year earlier. Excluding certain items, profit rose to 58 cents a share, from 25 cents a year earlier. Revenue rose 15% to $369.9 million. Finisar had projected adjusted profit of 44 cents to 50 cents a share on $355 million to $375 million in revenue. Analysts surveyed by Thomson Reuters had expected 46 cents on $362 million in revenue. Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com (END) Dow Jones Newswires Sales of 100 gig transceivers for datacom applications increased approximately 30% compared to the first quarter and more than 80% over the second quarter of the prior fiscal year.

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