Last $19.75 USD
Change Today +0.40 / 2.07%
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finisar corporation (FNSR) Key Developments

Finisar Corporation Amends and Restates Bylaws

The board of directors of Finisar corporation approved and adopted, effective on that date, the amended and restated bylaws of the company. The bylaws revised certain advance notice requirements for stockholders to propose director nominations or other business to be brought before an annual or special meeting of stockholders, which requirements include, among other things, the following: Advance notice from a stockholder to properly bring director nominations or other business before an annual meeting shall be delivered to the secretary of the company at its principal executive offices not earlier than the close of business on the 120th day nor later than the close of business on the 90th day prior to the first anniversary of the preceding year’s annual meeting. Advance notice from a stockholder to nominate any person for election at a special meeting shall be delivered to the secretary of the company at its principal executive offices not earlier than the close of business on the 120th day prior to the special meeting nor later than the close of business on the later of the 90th day prior to the special meeting or the 10th day following the day on which public announcement is first made of the date of the special meeting. Any stockholder that proposes nominations or other business must be a stockholder of record both at the time of the delivery of the advance notice and at the time of the annual or special meeting. In addition to the information specified in the company’s original bylaws, a stockholder’s advance notice with respect to any proposed business (other than nominations) must set forth, among other things, the text of the proposal or business, a description of all agreements, arrangements and understandings between the stockholder and any other person in connection with the proposal and any derivative security or other arrangement in the company’s capital stock. In addition to the information specified in the company’s original bylaws, a stockholder’s advance notice with respect to each person that the stockholder proposes to nomination for election as a director must include, among other things, such nominee’s written consent to being named in the proxy statement as a nominee and to serving as a director if elected and a questionnaire and a written representation and agreement with respect to such nominee and any director nomination or other business shall not be made or acted upon if the stockholder (or a qualified representative of the stockholder) does not appear at the meeting to present the director nominee or other proposed business.

Finisar Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended October 26, 2014; Provides Earnings Guidance for the Third Quarter of Fiscal Year 2015

Finisar Corporation announced unaudited consolidated earnings results for the second quarter and six months ended October 26, 2014. For the quarter, the company reported revenue of $296,981,000 compared to $290,722,000 a year ago. Loss from operations was $7,259,000 compared to income from operations of $30,109,000 a year ago, primarily as the result of lower revenue levels and gross margins, and higher expenses related to resolving a pending litigation alleging patent infringement. Loss before income taxes and non-controlling interest was $9,751,000 compared to income before income taxes and non-controlling interest of $30,519,000 a year ago. Net loss attributable to the company was $11,361,000 or $0.11 per diluted share against net income attributable to the company of $29,965,000 or $0.29 per diluted share a year ago. Operating income - non-GAAP was $24,984,000 against $44,767,000 a year ago, primarily as the result of lower revenue levels and gross margins. Net income attributable to company - non-GAAP was $23,465,000 or $0.23 per diluted share against $43,767 or $0.43 per diluted share a year ago. Non-GAAP EBITDA was $46,409,000 compared to $59,911,000 a year ago. Capital expenditures were $28.4 million, this was less than prior forecast of approximately $45 million, primarily due to an approximate 1 quarter delay in the completion of the second building of new Wuxi, China factory as well as the delay of certain plant capital expenditures due to lower-than-expected revenue levels. For the six months, the company reported revenue of $624,619,000 compared to $556,790,000 a year ago. Income from operations was $13,109,000 compared to $57,212,000 a year ago. Income before income taxes and non-controlling interest was $6,069,000 compared to $57,775,000 a year ago. Net income attributable to the company was $2,882,000 or $0.03 per diluted share against $55,976,000 or $0.56 per diluted share a year ago. Operating income - non-GAAP was $60,388,000 against $77,164,000 a year ago. Net income attributable to company - non-GAAP was $56,797,000 or $0.55 per diluted share against $75,036 or $0.74 per diluted share a year ago. Non-GAAP EBITDA was $101,856,000 compared to $106,774,000 a year ago. The company indicated that for the third quarter of fiscal 2015 it currently expects revenues in the range of $297 to $312 million, non-GAAP gross margin of approximately 31%, non-GAAP operating margin of approximately 8.4% to 9.4%, and non-GAAP earnings per diluted share in the range of approximately $0.23 to $0.27. Non-GAAP taxes are estimated at 6% for the remainder of fiscal 2015. Capital expenditures are expected to be approximately $40 million in the third quarter, primarily driven by the continued construction of the second building of new Wuxi, China factory. The company expects non-GAAP gross margins to be approximately 31% as the benefit from growth and revenues is offset by the impact of 1 month of the annual telecom price reductions that typically take effect on January 1.

Finisar Corp. Presents at Raymond James Systems, Semiconductors, Software and Supply Chain (S4) Conference, Dec-09-2014 10:45 AM

Finisar Corp. Presents at Raymond James Systems, Semiconductors, Software and Supply Chain (S4) Conference, Dec-09-2014 10:45 AM. Venue: New York Marriott East Side Hotel, Manhattan, New York, United States. Speakers: Eitan Gertel, Chief Executive Officer and Director.

Finisar Corp. to Report Q2, 2015 Results on Dec 04, 2014

Finisar Corp. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Daylight on Dec 04, 2014

Finisar Corp., Q2 2015 Earnings Call, Dec 04, 2014

Finisar Corp., Q2 2015 Earnings Call, Dec 04, 2014

 

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FNSR

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Valuation FNSR Industry Range
Price/Earnings 35.0x
Price/Sales 1.6x
Price/Book 1.9x
Price/Cash Flow 30.7x
TEV/Sales 1.1x
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