Finisar Corporation (NASDAQ:FNSR) has announced its results for the quarter ended on August 1, 2010. The company had a record performance during the quarter. The company’s revenue increased 62 percent from $128.7 million to $207.9 million. Analysts’ expectations were pegged at $201.1 million. The company earned 24 cents per share and its net income stood at $19.1 million. Finisar Corporation marginally surpassed consensus estimate of a profit of 23 cents per share. For the next quarter, the company expects to earn revenue in the range of $215 million and $230 million. Analysts have pegged their estimate for revenue at $224.5 million.
* Finisar Corporation sold its tools division to JDS Uniphase.
* Finisar Corporation was paid $40.6 million in cash for the unit.
Finisar Corporation’s Executive Chairman of the Board, Jerry Rawls, said, “In our just completed first quarter, we reached our previous target financial model earlier than we had predicted,” said Jerry Rawls, Finisar’s executive Chairman of the Board. “We achieved company records for revenues, gross margin, operating margin and EPS. Furthermore, the demand environment continued to be very strong for us, particularly for our higher data rate transceivers and our ROADM products. As a sign of that ongoing strength, our book-to-bill ratio in the quarter continued to be above 1.0.”
Finisar Corporation provides optical components and subsystems. The company’s products are used for connecting short distance storage areas and local area networks.
Key Financial Stats
Valuation
* Price/Earnings(TTM)60.30
* Price/Cash Flow19.50
* Price/Sales (TTM)1.60
* Price/Book2.89
Financial Strength
* Quick Ratio (MRQ)2.20
* Current Ratio (MRQ)3.20
* LT Debt to Equity (MRQ)0.33
* Total Debt to Capital (MRQ)0.43
* Return on Equity4.10
Assets
* Asset Turnover1.30
* Asset per Employee71988.25
* Inventory Turnover3.30
Per Share Data
* Earnings (TTM)0.22
* Current P/E Ratio3.20
* Cash Flow0.68
* Annual Dividend0.00
* Book Value4.59
* EBITDA-2.50
Profitability
* Market Cap0.22
* Gross Margin (TTM)34.20
* Operating Margin (TTM)-2.50
* Profit Margin (TTM) 2.20
Management Effectiveness
* Return on Equity (TTM)4.10%
* Return on Assets (TTM)2.30%
* Return on Investment (TTM)3.00%
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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