OPXT FYQ4 Misses, Q1 View Light; Shares Fall

Fiber optic component vendor Opnext (OPXT) this afternoon reported fiscal Q4 revenue below consensus and a deeper-than-expected net loss, and projected this quarter’s revenue lower than expected as well.

Revenue in the three months ended in March fell to $67.7 million, yielding a net loss of 18 cents a share.

Analysts on average had been modeling $72.7 million and a net loss of 15 cents. The results fall short of the company’s own forecast for revenue in a range of $70 million to $75 million.

For the current quarter, the company sees revenue in a range of $70 million to $80 million, below the average $84.4 million estimate.

CEO Harry Bosco said the current quarter was affected by “supply constraints” that are limiting its sales of parts for optical networks running at 40 gigabits per second and higher.

Despite the shortfall, Bosco said he was “pleased with the progress we made during the quarter,” with “strong demand” for 40-gigabit components.

Opnext shares are down 5 cents, a little over 5%, at 87 cents.

May 15, 2012

Continue