Finisar (FNSR) Q1 Earnings Match Estimates, Revenues Miss
Zacks Investment Research | Sep 05, 2019 07:46AM ET
Finisar Corporation (NASDAQ:FNSR) reported mixed results for first-quarter fiscal 2020 (ended Jul 28, 2019) as revenues decreased year over year but net loss narrowed.
Net Loss
On a GAAP basis, net loss for the quarter was $8.7 million or loss of 7 cents per share compared with net loss of $18.5 million or loss of 16 cents per share in the year-ago quarter. The year-over-year improvement was primarily attributable to lower cost of sales.
Excluding non-recurring items, non-GAAP net income for the reported quarter jumped to $27.6 million or 23 cents per share from $21.3 million or 18 cents per share in the year-earlier quarter. Non-GAAP earnings were in line with the Zacks Consensus Estimate.
Finisar Corporation Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.