Communications equipment maker JDS Uniphase Corp. (JDSU), Tuesday reported narrower loss in the second quarter on improved margins and lower operating expenses, absent goodwill impairment expenses recorded in the year ago quarter. Looking ahead, the company provided its revenue guidance for the third quarter, projected to come in ahead of current Street estimates.
The Milpitas, California-based company's second quarter net loss narrowed to $19.5 million or $0.09 per share from $722.9 million or $3.36 per share in the prior year quarter.
Non-GAAP net income increased to $26.6 million from $25.6 million in the same quarter last year. On a per share basis, profit was $0.12, flat with the year ago quarter.
On average, ten analysts polled by Thomson Reuters expected the company to report a profit of $0.09 per share for the quarter. Analysts' estimate typically exclude one-time items.
Net revenue for the second quarter declined to $342.9 million from $353.8 million in the same quarter last year. Non-GAAP net revenue, including revenue related to purchase accounting adjustment of $0.9 million, was $343.8 million, down 3% from $354 million in the comparable quarter last year. Nine Street analysts expected the company to generate revenue of $334.24 million for the second quarter.
Non-GAAP gross margin improved to 44.6% from 43.5% a year-ago, and 43.5% in second quarter of fiscal 2009. Non-GAAP operating margin was 3.2%, lower than 5.4% in the same period last year.
Quarterly EBITDA was $20.4 million, compared to a loss of $684.6 million, while adjusted EBITDA increased to $42.6 million from $37.1 million in the year-ago period.
In the prior first quarter, JDS Uniphase recorded a wider loss of $31.9 million or $0.15 per share compared to $21.3 million or $0.10 per share a year ago. Adjusted earnings declined to $9.0 million or $0.04 per share from $23.9 million or $0.11 per share in the year-ago quarter. Net revenue for the quarter decreased to $297.8 million from $377.2 million in the year-ago period. Adjusted net revenues for the first quarter was $298.6 million, down 21% from $377.3 million for the same period last year.
Operating expenses for the quarter dropped sharply to $151.2 million from $856.1 million a year ago. The prior year quarter included expense of $691.9 million on impairment of goodwill.
Selling, general and administrative expense for the quarter also dipped to $94.7 million from $103.7 million in the prior year quarter.
On segmental basis, revenue from communications test and measurement segment rose 2% to $176.9 million from $173 million a year ago, while revenue from the advanced optical technologies segment was $54.6 million, up 3% from the last year quarter.
Revenue from the communications and commercial optical products segment fell 12% to $112.3 million from $127.9 million in the year-ago period, resulting from a 13% decline in optical communication division and 9% slip in commercial laser business.
For the six-month period, the company reported a net loss of $51.4 million or $0.24 per share, compared to a loss of $744.2 million or $3.46 per share in the prior year period. On a non-GAAP basis, the company posted net income of $35.6 million or $0.16 per share, down from $49.5 million or $0.23 per share in the year-ago period.
Revenue for the six months declined to $640.7 million from $731 million in the same period last year. Non-GAAP revenue was $642.4 million, down from $731.3 million last year period. Looking forward to the third quarter, the company expects non-GAAP revenue to be in the range of $325 million to $350 million. Analysts currently expect revenue of $322.68 million for the quarter.
JDSU closed Tuesday's regular trading at $8.37, up $0.21 or 2.57%, on a volume of 5.40 million shares. In after hours, the share further rose 2.87% or $0.24, trading at $8.37.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.