SUNNYVALE, Calif. (AP) _ Finisar Corp. (FNSR) on Thursday reported a fiscal third-quarter loss of $55.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Sunnyvale, California-based company said it had a loss of 49 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 20 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The fiber optic component supplier posted revenue of $332.4 million in the period, which also fell short of Street forecasts. Eight analysts surveyed by Zacks expected $334 million.
For the current quarter ending in April, Finisar expects its per-share earnings to range from 9 cents to 15 cents.
The company said it expects revenue in the range of $300 million to $320 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $333.8 million.
Finisar shares have risen slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.45, a decline of 40 percent in the last 12 months.