JDSU (JDSU-NASDAQ) gave earnings today, but remember that it had already guided higher.
It posted revenues at $366.3M and GAAP net income $0.10 EPS, non-GAAP EPS $0.13 versus $0.10 estimates. On JAN 18 it raised its previously issued revenue guidance of $332 to $352 million to be within a new range of $360 to $365 million. Consensus estimates were roughly $342 million.
JDSU expects net revenue for the third quarter of fiscal 2007, ending March 31, 2007, to be in the range of $333 to $353 million; although estimates are $351 million. So they raised two weeks ago, but guidance looks soft here for the coming quarter at the mid-point of the range. Maybe they are just trying to be conservative, but after its history traders don’t like giving JDSU the benefit of the doubt.
JDSU closed up almost 3% at $17.21 (versus $13.93 adjusted 52-week lows) and it is now indicated back down to $17.21.
Jon C. Ogg
January 31, 2007
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