JDS Uniphase 1st-qtr forecast falls short of expectations
Aug 12 (Reuters) - Network equipment maker JDS Uniphase Corp forecast first-quarter adjusted revenue and profit below market expectations, sending its shares down as much as 7.6 percent in extended trading.
On an adjusted basis, the company expects profit to range between 8 cents and 12 cents per share on net revenue of $405-$425 million in the first quarter ending Sept. 27.
Analysts on average were expecting earnings of 14 cents per share on revenue of $440.9 million, according to Thomson Reuters I/B/E/S.
JDS Uniphase makes instruments and testing tools to deploy and optimize communications equipment and broadband networks for customers such as AT&T Inc, Time Warner Cable Inc and Verizon Communications Inc.
The company also reported better-than-expected fourth-quarter revenue, largely helped by growth in its network service and optical products businesses. (Reporting By Subrat Patnaik; Editing by Saumyadeb Chakrabarty)