Results – revenue $369.86M (+15.2% Y/Y, $7.8M above estimates), EPS $0.58 ($0.12 above estimates), gross margin 37.2% (vs. 33.1% Q/Q), operating expenses $69.4M (vs. $69.3M Q/Q), operating margin 18.5% (vs. 12.8% Q/Q), cash, cash equivalents and short-term investments $626.3M (+$32.5M Q/Q)
Q3 projections – revenue $378M-$398M (consensus $376.56M), gross margin 37%-38%, operating margin 18.5%-19.5%, EPS $0.58-$0.64 (consensus $0.48)
Finisar (NASDAQ:FNSR) CEO Jerry Rawls: "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."
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