More on Finisar's FQ1: The soft results are blamed on weak telecom capex and macro conditions in...

|About: Finisar Corporation (FNSR)|By:, SA News Editor

More on Finisar's FQ1: The soft results are blamed on weak telecom capex and macro conditions in Europe and China. FQ2 guidance is for revenue of $225M-$240M and EPS of $0.12-$0.16 vs. a consensus of $236.2M and $0.19. Datacom (enterprise networking) product sales fell 4.5% Q/Q, while telecom sales fell 13.6%. This led gross margin to drop 110 bps to 30.3%. But the Street was expecting a weak report in light of industry conditions. FNSR now -0.8% AH. (PR)