JDS Uniphase posts wider fiscal 3Q loss

Communications equipment company JDS Uniphase Corp. said Wednesday its fiscal third-quarter loss widened and it predicted weaker-than-expected sales in the current fourth quarter.

The company posted a loss of $85.2 million, or 40 cents per share, for the three months that ended March 28. In the same period last year, JDSU reported a loss of $6.2 million, or 3 cents per share.

Excluding a $45 million impairment charge, an $11 million restructuring charge and other special items, JDSU said it would have lost 3 cents per share.

That's in line with Wall Street's view. Analysts polled by Thomson Financial expected a loss of 3 cents per share.

JDSU's revenue sank across operating segments, and in total plunged 27 percent to $280.6 million, falling short of Wall Street's expectations for $284.8 million in sales.

JDSU provides communications test and measurement systems and optical products for telecom service providers, cable operators and network equipment makers. Its products are also used in medical instruments, semiconductor processing and other applications.

Test and measurement sales fell 24 percent to $129.2 million. Communications and commercial optical products sales dropped 37 percent to $100.5 million. And advanced optical technology sales slipped 9 percent to $51 million.

The company said it expects adjusted fourth-quarter sales of $265 million to $285 million. Analysts are currently looking for a stronger $290.5 million in revenue.