Finisar +5.7% AH on FQ2 beat, guidance; JDS Uniphase +1.8%

Finisar (FNSR) is guiding for FQ3 revenue of $290M-$305M and EPS of $0.43-$0.47, above a consensus of $289.3M and $0.38.

FQ2 results beat estimates thanks in large part to an 11% Q/Q and 46% Y/Y increase in datacom component sales to $204.3M (70% of total revenue); the Y/Y growth rate represents a solid increase from FQ2's 32%. Healthy data center infrastructure spending from Internet/cloud services firms likely played a big role.

Telecom component sales totaled $86.5M, +6% Q/Q but -6% Y/Y. Major customer Cisco recently reported seeing soft telecom hardware orders.

Gross margin was 37.1%, +200 bps Q/Q and +660 bps Y/Y. FQ3 GM is expected be around 37%.

Opex rose 15% Y/Y; R&D, sales/marketing, and G&A spend each grew by a double-digit percentage.

Aided by yesterday's FBR note, Finisar is now up 17% from Tuesday's close. JDS Uniphase (JDSU) is following its rival higher AH.

CC at 5PM ET. FQ2 results, PR, presentation

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