Finisar posts loss in Q1

Finisar Corporation, a provider of optical subsystems and components, has reported a net loss of $11.12 million, or $0.07 per diluted share, for the first fiscal quarter ended August 2, 2009, compared to a net income of $2.94 million, or $0 per diluted share, for the same period of 2008.

The company has reported total optics revenues of $128.72 million for the first fiscal quarter ended August 2, 2009, compared to $115.77 million for the same quarter of 2008.

Finisar has reported an operating loss of $8.79 million for the first fiscal quarter ended August 2, 2009, compared to an operating income of $7.86 million for the corresponding period of 2008.

Eitan Gertel, CEO of Finisar, said: "While gross margins for optics were up from last quarter and a little better than we expected, we can look for additional improvement in the near term as our top line continues to improve, product mix turns favorable and additional synergies are realized with respect to manufacturing costs."

http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall 
not be liable for errors or delays in the content, or for any actions 
taken in reliance thereon

Related terms: ceo, manufacturing, optical, optics