Oclaro Shares Rise After Quarterly Results Top Street View

By Wallace WitkowskiMarketsMarketWatch Pulse

Oclaro Inc. shares rose in the extended session Wednesday after the optical communications equipment company topped Wall Street estimates for the quarter. Oclaro shares rallied 6.8% to $9.75 after hours. The company reported fiscal fourth-quarter net income of $56 million, or 33 cents a share, compared to $11.8 million, or 9 cents a share, in the year-ago period. Adjusted earnings were 20 cents a share. Revenue rose to $149.4 million from $125.2 million in the year-ago period. Analysts surveyed by FactSet had estimated 17 cents a share on revenue of $148 million. For the first quarter, Oclaro estimates revenue of $151 million to $159 million. Analysts expect revenue of $154.1 million.

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