Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Shares of JDS Uniphase UP, CSFB Keeps Buy Rating


Shares of JDS Uniphase Corp. (JDSU) were trading higher after it posted higher earnings compared to a year ago. Credit Suisse First Boston, meanwhile, maintained its buy investment rating on the maker of optical networking equipment.

JDS Uniphase recorded second quarter earnings per share on a pro forma basis of $0.21 compared to $0.09 a year ago. The company also lowered its third quarter estimates for sales growth to 7% to 10% sequentially.

Analyst James Parmelee said the results were in line with his expectations, and long-term fundamentals remain intact. The analyst also added he's fine-tuning his estimate for third quarter revenue to reflect customer inventory adjustments, and uncertain near term capital spending. He also lowered his fiscal 2002 sales estimates to $5.7 billion from $6.15 billion.

Parmelee said the revised EPS guidance removes overhang on the stock; and the projected closure of the merger with SDL Inc. February should serve as an additional catalyst. He sees a fiscal 2001 EPS of $0.82, and a fiscal 2002 EPS of $1.10. Shares of JDS Uniphase were up 3-5/16 at 58-1/2.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus