SUNNYVALE, CA--(Marketwire -06/11/12)- Finisar Corporation (FNSR), a global technology leader for subsystems and components for fiber optic communications, today announced financial results for its fourth quarter and fiscal year ended April 30, 2012.
COMMENTARY
"In our just completed fiscal fourth quarter, our revenues were $239.9 million. Continued strength in datacom revenues were offset by lower telecom revenues. The lower telecom revenues were primarily the result of sluggish carrier capital expenditures and the full three month impact of annual price reductions for telecom products. We were pleased that our gross margin for the quarter exceeded our guidance, resulting in earnings per diluted share which was at the upper end of our guidance range," said Jerry Rawls, Finisar's executive Chairman of the Board.
"We continued to invest in research and development and make good progress on a number of new innovative products, including additional customer qualifications of our tunable XFP transceivers and design wins for our Flexgrid wavelength selective switches, ROADM linecards, 40G and 100G products," said Eitan Gertel, Finisar's Chief Executive Officer. "While the current level of carrier capital expenditures has muted the near term revenue impact of these new products, we believe that this progress has set a strong foundation for revenue growth in the second half of 2012 and beyond."
Source: See entire News Release (Click Link):
http://files.shareholder.com/downloads/FNSR/1332353945x0x576816/5bf13aa2-4638-431c-9b5e-f18fc6715e3c/FNSR_News_2012_6_11_Financial.pdf
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