BETA
This is a BETA experience. You may opt-out by clicking here

More From Forbes

Edit Story

JDSU Shares Rally After Hours As FY Q2 Tops Estimates

This article is more than 10 years old.

Shares of the optical networking equipment vendor JDSU are trading higher after hours Wednesday on better-than-expected financial results for the company's fiscal second quarter ended December 29.

For the period, JDSU posted revenue of $429.4 million and non-GAAP profits of 18 cents a share; that topped the Street consensus at $424.2 million and 14 cents a share.

"JDSU delivered a strong fiscal Q2, with revenue at the top of our guidance range and operating margins exceeding expectations across all three business segments," CEO Tom Waechter said in a statement. "We are pleased with the progress we've made in aligning our product portfolio with customer spending priorities, resulting in a high percentage of revenue from new products and a positive impact on financial results. We are well-positioned for growth opportunities in 2013."

For Q3, the company sees non-GAAP revenue of $405 million to $425 million, consistent with Street consensus at $415 million.

JDSU in late trading is up 95 cents, or 7.7%, to $13.35.