Finisar -1.9% as revenue misses, guidance disappoints

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

Finisar (FNSR +1.5%) has slipped 1.9% after hours following fiscal Q4 earnings where revenues missed slightly and current-quarter guidance came in light.

The company's guiding to Q1 revenues of $330M-$350M (below consensus for $366.2M) and EPS of $0.37-$0.43 (below consensus for $0.51).

Revenue for Q4 gained 12.2% Y/Y but fell 6.1% sequentially, mainly due to "a decline in telecom revenues due to lower revenues from our Chinese OEM customers and the impact of the full three months of the annual telecom price erosion,” says CEO Jerry Rawls.

Revenue for the full year hit an all-time record of $1.449B.

Cash, equivalents and short-term investments came to $1.2B.

Finisar also forecasts non-GAAP gross margin of about 35% and operating margin of about 14%.

Conference call to come at 5 p.m. ET.

Press Release

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