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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Oplink Communications (NASDAQ: OPLK ) got crushed today, down 11% at the low, after the company reported earnings.
So what: Revenue in the quarter was $45.1 million, with non-GAAP net income of $4.6 million, or $0.24 per share. Sales were a little light compared to the $45.2 million consensus estimate, while earnings were slightly ahead of the $0.22 per share expected.
Now what: Investors must have been disappointed with Oplink's guidance, though. Revenue in the current quarter is expected to be $42 million to $45 million, making the $46 million consensus a bit of a stretch to reach. Adjusted earnings per share should be in the range of $0.15 to $0.21, the midpoint of which is below the $0.20 per share consensus.
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