Oclaro Inc. Shares Up More Than 10% On EPS, Revenue Beat

Oclaro Inc. shares rose more than 10% late Tuesday after the company, which manufactures and sells optical components, reported better-than-expected fiscal fourth-quarter results. Oclaro said it earned $12 million, or 11 cents a share, versus a loss of $14 million, or 13 cents a share, a year ago. Adjusted for one-time items, Oclaro earned $15 million, or 11 cents a diluted share, versus a loss of $7 million, or 6 cents a share, in the fourth quarter of fiscal 2015. Sales reached $125 million in the quarter, compared with $82 million in the year-ago period. Analysts polled by FactSet had expected Oclaro to report earnings of 6 cents a share in the quarter on sales of $120 million.