JDS Uniphase 3Q profit beats analyst expectations

MILPITAS, Calif.—Communications equipment provider JDS Uniphase Corp. said Wednesday its third-quarter loss narrowed 56 percent on an increase in fiber-optic component sales.

Although the company beat analyst expectations, its shares plunged in after-session trading on its fourth-quarter sales forecast.

The company's net loss narrowed to $6.2 million, or 3 cents per share, from $14.2 million, or 7 cents per share.

Excluding one-time costs and gains, the company earned $31.2 million, or 14 cents per share, compared with $12.3 million, or 6 cents per share, last year.

Sales rose 6 percent to $383.9 million from $361.7 million.

Analysts polled by Thomson Financial expected a profit of 13 cents per share on sales of $393.6 million. Analysts typically exclude one-time costs and gains.

Optical communications sales grew 9.6 percent to $136.1 million, representing 35 percent of total sales. The company's optical communications section makes components used to build fiber-optic telecom and cable television networks.

Communications test and measurement sales rose 1.1 percent to $169.3 million, representing 44 percent of total sales.

Shares of the Milpitas, Calif.-based company closed at $14.31. They fell 10.6 percent to $12.80 in after-session trading following the release of the results and outlook.