After reaching a 52-week high during the session, JDS Uniphase (JDSU) surged another 12% after hours upon reporting a stronger-than-expected surge in second-quarter profit, driven by record revenues, as demand for its communications test and measurement products continued to mount.
The Milpitas, Calif.-based company posted net income of $23.6 million, or 10 cents a share, compared with $100,000, or break-even earnings per share, in the same quarter last year.
Excluding one-time items, the company earned 29 cents a share, ahead of average analyst estimates polled by Thomson Reuters of 19 cents.
Revenue for the provider of communications test and measure solutions was $473.5 million, up about 17% from $405.2 million a year ago, trumping the Street’s view of $437.7 million.
“This is an exciting time for JDSU,” said Tom Waechter, the company’s chief executive. “Our market drivers are strong, our innovation engine and pipeline for new products is robust, and we continue to increase our operating leverage.”
Earnings were fueled by robust sales in its communications test and measurement, and communications and commercial optical units, up roughly 27% and 14%, respectively, partially offset by a 9.6% decline in its advanced optical technologies segment.
For the third-quarter, the company expects non-GAAP revenue to be in the range of $440 million to $460 million a share.