Milpitas, CA–Optical communications and commercial optical products manufacturer, JDSU (NASDAQ: JDSU; and TSX: JDU) swung to a profit and reported record revenues its second fiscal quarter ended January 1, 2011. Net income was $23.6 million, or 10 cents a share, compared with a loss of $19.5 million, or 9 cents a share, for the year-earlier period. Revenue was $473.5 million, up from $342.9 million.
JDSU's results beat analsts' expectations and pushed the company's stock to its highest point in four years--its stick has more than doubled in the past year.
“In fiscal Q2 JDSU reported record revenues, gross margin and operating margin, which exceeded our operating model target,” stated Tom Waechter, JDSU’s President and Chief Executive Officer. “This is an exciting time for JDSU. Our market drivers are strong, our innovation engine and pipeline for new products is robust, and we continue to increase our operating leverage.”
For the current quarter, the company said it expects revenue in the range of $400 million to $460 million.