4:03 pm Finisar beats by $0.12, beats on revs; guides Q3 EPS above consensus, revs above consensus ( FNSR) :
Reports Q2 (Oct) earnings of $0.58 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus of $0.46; revenues rose 15.2% year/year to $369.9 mln vs the $364.29 mln Capital IQ Consensus. Non-GAAP gross margin improved to 37.2% compared to 33.1% in the first quarter.
"This growth was primarily driven by strong demand for 100G transceivers. In addition, customer demand for wavelength selective switch and ROADM line card products was strong. Our gross margins improved significantly due to a favorable product mix and leverage achieved from our vertical integration with larger volumes. The combination of revenues being at the higher end of our guidance range with higher gross margins resulted in earnings per fully diluted share above our guidance range,"
Co issues upside guidance for Q3, sees EPS of $0.58-0.64, excluding non-recurring items, vs. $0.48
Capital IQ Consensus Estimate; sees Q3 revs of $378-398 mln vs. $377.62 mln Capital IQ Consensus Estimate. Co sees Q3 non-GAAP gross margin of ~37% to 38%, non-GAAP operating margin of ~18.5% to 19.5%.