On Wednesday, August 2, in the extended trading session, shares of Oclaro increased. Why? The increase occurred after the San Jose, California-based company surpassed Wall Street expectations for the quarter.
After hours, Oclaro Inc. (NASDAQ:$OCLR) shares rallied 6.8% to $9.75. In addition, the optical communications equipment company posted fiscal Q4 net income of $56 million (33 cents a share) compared to $11.8 million (9 cents a share) in the 2016 period.
In addition, Oclaro reported adjusted earnings of 20 cents a share. OCLR revenue increased to $149.4 million from $125.2 million in the 2016 period. According to analysts polled by FactSet, the estimate for Oclaro was 17 cents a share on revenue of $148 million. In regards to the first quarter, Oclaro forecasts revenue of $151 million to $159 million. On the other hand, analysts forecast revenue of $154.1 million.
All in all, Wednesday’s news is significant for anyone interested in the semiconductor industry.
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