Finisar (NASDAQ:FNSR) Stock Soars as Profit Outshines Wall Street Forecasts

The Sunnyvale, California-based Finisar Corporation’s (NASDAQ:FNSR) stock moved up over 2% in extended trading session on Thursday after the company’s fiscal Q3 adjusted EPS surpass Wall Street forecasts.

The fiber optics equipment maker also estimates results for fiscal Q4 in line with analysts’ expectations.

Net loss for third quarter was $3.41 million or $0.04 a share, evaluated against net income of $8.91 million or $0.09 a share in similar quarter a year earlier.

Adjusted EPS for three months period were $0.17 or $16.93 million without special items, compared with adjusted EPS of $0.23 or $22.42 million in same quarter a year ago.

Thomson Reuters 14 analysts survey on average forecasted to announce $0.16 a share for the three months period.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Oclaro, Inc. (NASDAQ:OCLR) rose +4.17% to settle at $1.25, Oplink Communications, Inc (NASDAQ:OPLK) moved up +5.06% to end at $16.19 while JDS Uniphase Corp (NASDAQ:JDSU) jumped +7.63% to finish at $15.23 on Thursday.

Finisar Corporation (NASDAQ:FNSR) last session’s volume of 6.09 million shares was higher than its average volume of 2.39 million shares. The stock after opening at $16.25 hit high price of $16.33 and then closed at $15.84 by scoring +5.53%.

FNSR generated revenue of $935.43 million in the previous twelve months and earned $21.00 million. The Company showed a positive 2.24% in the net profit margin as well as in its operating margin which remained at 1.95%. Company’s annual sales growth for the past five years was 17.88%.

The FNSR’s past twelve months’ price to sales ratio was 1.57 and price to cash ratio remained 5.60. As far as the returns are concerned, FNSR’s return on equity was recorded as 2.77% and return on investment increased 2.56% while its return on asset stayed at 2.15%.

The stock showed weekly upbeat performance of 8.12% which was maintained for the month at -4.29%. Likewise the positive performance for the quarter was recorded as 16.56% and for the year was -16.19% while the YTD performance remained at -2.76%.

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