Finisar Corp. (FNSR)
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FNSR Forum Topics
- All Comments on FNSR
- General Discussion on FNSR
- CIENA and Bookham: A Good Match? [view article]
- Finisar Corporation: Beaten Down, But Will Not Stay Down [view article]
- Finisar Beats Estimates on Higher Optical Chip Sales [view article]
- What Will It Take for Finisar to Reach the High End of Revenue Guidance? [view article]
- Optical Component Market Consolidation – Part I [view article]
- More Consolidation in Optical Components [view article]
- 10GbE Optical Component & SFP+ Modules: This Time It's Different [view article]
- Fiber Makers to Benefit From ISP Bandwidth Woes [view article]
- 5 Misconceptions About the 10G Optical Market [view article]
- Fiber Optics Market: Benefiting from the Online Video Trend [view article]
- Jim Cramer's Real Money Radio Recap 6/29 [view article]
loading ...Recent FNSR Articles
- Finisar Short Covering Alert: Expecting a Rally
- Bookham Looks Too Good to Pass Up
- CIENA and Bookham: A Good Match?
- Analysts Are Even More Bullish on Finisar
- Finisar Corporation: Beaten Down, But Will Not Stay Down
- Optical Components Overview: Finisar and JDS Uniphase Corp.
- Finisar Beats Estimates on Higher Optical Chip Sales
- What Will It Take for Finisar to Reach the High End of Revenue Guidance?
- Optical Component Market Consolidation – Part I
- More Consolidation in Optical Components
- Full List of Articles »
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CIENA and Bookham: A Good Match? [view article]
Sorry for being flip. Nom de Plum described it well. Unless vertical integration results in a unique benefit (like Infinera) then it is of no value in the existing competitive environment. Replyma
CIENA and Bookham: A Good Match? [view article]
yeah, yeah, heard it all before. GLW was supposed to be dead too. i still think it's just a matter of time before the FO sector comes roaring back. main concern is how much longer?i've been impressed with bkhm's product development. Reply
CIENA and Bookham: A Good Match? [view article]
Agree with Schmitt on this one. The advantage to being an OEM is you can play one desperate component/module player off of another to improve your margins. There is no reason that CIEN would buy BKHM. What would would happen to any revenue that BKHM sells to CIEN competitors. Likewise, the advantage to being an operator is you can one OEM off another to improve your own margins. Fortunately, CIEN has the staying power (cash) and R&D prowess of remianing relevant cycle after cycle. CIEN maybe not a bad pick here, but BKHM is burning cash. Your only hope with BKHM is a takeout which has been rumored for over 5 years. ReplyCIENA and Bookham: A Good Match? [view article]
reasons to be cautious on BKHM:-13.7% operating margin (ttm)
only 50mm in cash with -39mm levered free cash flow (ttm)
major >10% customer is Nortel who is selling off their optical business
major customer is Ciena who pre-announced weak sales
reasons to be bullish on BKHM:
amount of money lost each quarter getting smaller
some interesting product announcements
reasons why a systems company is unlikely to buy an optical company
a) systems companies all spun out their optical subsidiaries pre-bubble or during the telecom bubble
b) premise is to "realize public value" of these businesses
c) additional premise is to allow optical companies to sell to many different system vendors & carriers and therefore address a larger market. if the optical company is in-house then they can typically only sell to the in-house customer and not external
d) Ciena would rather buy from many suppliers than support the R&D for an in-house optics team
Reply
CIENA and Bookham: A Good Match? [view article]
I'll clearly admit I don't know the slightest thing about how this business works...but can you explain why "The last thing an equipment company wants is an optical company."?If Ciena, which makes network infrastructure hardware (among other things), and optical/wireless/wifi/... is the next wave, why wouldn't they want to buy a (cheap) company in this space? Reply
CIENA and Bookham: A Good Match? [view article]
You clearly don't understand how this business works.The last thing an equipment company wants is an optical company. Reply
Finisar Corporation: Beaten Down, But Will Not Stay Down [view article]
I have JDSU for ages. 7 years. It is good for long term. About 40 yrs. ReplyFinisar Corporation: Beaten Down, But Will Not Stay Down [view article]
thank you for the homework keep up the good job!!! ReplyWhat Will It Take for Finisar to Reach the High End of Revenue Guidance? [view article]
Kris - yes you are correct. $135M ->$200M. It is big but keep in mind the 10G market has organic growth too - one needs to look at market share gains as well as simple organic market growth. ReplyWhat Will It Take for Finisar to Reach the High End of Revenue Guidance? [view article]
I am sorry to say I forgot to include my disclosure, yes I am long FNSR. ReplyWhat Will It Take for Finisar to Reach the High End of Revenue Guidance? [view article]
Hey Andrew, It would be more useful to see the absolute growth in T/10G $ to figure out how much heavy lifting is required to get it done. The base is now larger so comparing the current 45% to an early % increase off a small number can be misleading.When I build models for software companies I always look closely at absolute dollar changes QoQ and YoY as a key. My experience is that companies have a fairly sticky capacity to generate incremental revenue.
Kris Reply
Lindstrom
What Will It Take for Finisar to Reach the High End of Revenue Guidance? [view article]
AndrewYou were long Finisar a year ago (Finisar was about $4) and last month according to the article disclosures. Now you show no position. Did you give up on Finisar or did they forget to show you as long? Given your conclusion and the low PE and PEG for FNSR, I'd think you would be adding to positions here.
Thanks for your excellent analysis.
Kirk
Reply
Tiedeman
Optical Component Market Consolidation – Part I [view article]
AVNX, FNSR, the whole lot of them are in the tank and have dome nothing for nearly 10 years other than pop and drop. ReplyMore Consolidation in Optical Components [view article]
The combination of 2 poorly managed companies with almost no earnings does not equal 1 good company with great earnings. And correct me if I'm wrong, but isn't FNSR going to have to issue approximately 159.56 million additional shares for this merger to take place. The earnings per share of the resultant company will be diluted to almost nothing! The recent gain in FNSR is obviously good for OPTM shareholders, but this deal will not add long term value to FNSR shares. ReplyMore Consolidation in Optical Components [view article]
Shallow view of the industry and vision of the applications. Author need to be educated. Reply