Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications

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Finisar Earnings Report

posted on Jun 16, 2017 11:22AM

Finisar reverses, +7.3% as it sees Q2 growth resumption

Jun. 16, 2017 9:20 AM ET|About: Finisar Corporation (FNSR)|By: Jason Aycock, SA News Editor

https://seekingalpha.com/news/3274006-finisar-reverses-plus-7_3-percent-sees-q2-growth-resumption

Finisar (NASDAQ:FNSR) -- which was trading lower in last night's postmarket session after a revenue miss and downbeat guidance for the current Q1 -- has changed direction, up 7.3% premarket after some optimism from the company's earnings call.

Q1 guidance was well short of expectations: The company saw revenue of $330M-$350M vs. the Street's $366.2M, and EPS of $0.37-$0.43 vs. $0.51.

But "We expect revenue growth to resume in our second fiscal quarter," mainly driven by growth in sales of 100-GB QSFP28 transceivers for the big hyperscale data centers, and sales of VCSEL arrays for 3D sensing.

The company has received production purchase orders in the 3D sensing area and expects to get customer approval to ship meaningful volumes for Q2, said CEO Jerry Rawls.