August 2, 2010 / 9:23 PM / 9 years ago

UPDATE 1-Oplink Q4 profit, Q1 outlook beat Street; shares rise

* Q4 adj EPS $0.28 vs est $0.21 * Sees Q1 adj EPS $0.36-$0.42 vs est $0.23

* Shares rise 13 pct in extended trade

Aug 2 (Reuters) - Oplink Communications Inc OPLK.O, which makes products for optical networking, posted fourth-quarter profit that beat Wall Street expectations and forecast a strong first quarter. Shares of the company jumped 13 percent to $18.65 in trading after the bell. They closed at $16.45 Monday on Nasdaq.

The company expects first-quarter earnings of 36 cents to 42 cents a share, excluding items, on revenue of $47 million to $50 million.

Analysts were looking for first-quarter earnings of 23 cents, before items, on revenue of $38.7 million, according to Thomson Reuters I/B/E/S.

For the fourth quarter ended June 30, the company earned $3.6 million, or 17 cents a share, compared with $249,000, or 1 cent per share, a year ago.

Excluding items, Oplink earned 28 cents a share, higher than analysts’ expectations of 21 cents a share.

Revenue rose 20 percent to $38.9 million, above analysts’ expectations of $37.2 million. (Reporting by Manasi Phadke in Bangalore; Editing by Maju Samuel)

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