JDS Expects Longer Road to Recovery
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JDS Uniphase Corp., a leading maker of optical networking components, reaffirmed its gloomy fiscal second-quarter sales outlook and predicted more bad news.
Sales for the three months ending Dec. 29 probably will be 10% to 15% below the $329 million reported in its fiscal first quarter, the company said. Analysts were expecting second-quarter sales of $286.4 million, or a 12.9% drop from the first-quarter numbers, according Thomson Financial/First Call.
Last year, San Jose-based JDS reported second-quarter revenue of $925 million.
The company also said it expects to bottom out in the third quarter with sales up to 15% below the second quarter. It predicts a modest initial recovery.
JDS shares closed down 58 cents, or 5.5%, to $9.95 on Nasdaq.
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