It is the age of broadband, but no one could tell that from the results of companies which supply equipment to the broadband suppliers like cable and telecom firms
JDSU (JDSU), one of the oldest companies in the industry, reported poor earnings. Net revenue for the third quarter of fiscal 2008 was $383.9 million and the net loss was $6.2 million, or $(0.03) per share. This compares to net revenue of $361.7 million and a net loss of $14.2 million or $(0.07) per share for the third quarter of fiscal 2007.
What was worse was guidance. JDSU said that for the fourth quarter of fiscal 2008, ending June 28, 2008, the it expects non-GAAP net revenue to be in the range of $381 to $403 million, In other words, the business is not growing at all.
With capital spending dropping in the teeth of a bad economy, companies like JDSU may have a very rough year. Wall St. will be watching for orders to pick up as broadband landline and wireless picks up. If JDSU is not growing by then, it means the company is bleeding market share.
Douglas A. McIntyre
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