SUNNYVALE, Calif. (AP) _ Finisar Corp. (FNSR) on Thursday reported a fiscal fourth-quarter loss of $18.3 million, after reporting a profit in the same period a year earlier.
The Sunnyvale, California-based company said it had a loss of 16 cents per share. Earnings, adjusted for one-time gains and costs, came to 5 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The fiber optic component supplier posted revenue of $310.1 million in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $310.2 million.
For the year, the company reported a loss of $48.3 million, or 42 cents per share, swinging to a loss in the period. Revenue was reported as $1.32 billion.
For the current quarter ending in August, Finisar expects its per-share earnings to range from 10 cents to 16 cents.
The company said it expects revenue in the range of $305 million to $325 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $315.2 million.
Finisar shares have decreased 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.70, a drop of 30 percent in the last 12 months.