Oplink Communications, Inc. reports Q4 earnings below the Street
Shares of Oplink Communications, Inc. (Nasdaq:OPLK) are falling in pre-market trading this morning after the provider of photonic components, intelligent modules, and subsystems solutions reported fiscal fourth quarter results below analyst expectations and guided for lower than expected earnings for its fiscal first quarter after the close Monday.
For the three months ended July 1, the Fremont, Calif.-based company recorded net income of $5.4 million, or $0.23 per diluted share, while the Street was expecting earnings of $0.25 per share.
Oplink recorded total revenue of $37.2 million, compared with revenue of 16.9 million for the fourth quarter of 2006. Analysts were expecting revenues of $31.3 million.
The company also gave guidance for its fiscal first quarter. For the quarter ending September 30, 2007, Oplink said it expects to report revenues of between $46.0 and $50.0 million. Three analysts polled by Thomson Financial are expecting revenues of $32.53 million. Oplink said it expects earnings of approximately $0.10 to $0.12 for the first quarter, while four polled by Thomson Financial are expecting earnings of $0.26 per share on average.
Shares of Oplink fell 6.73%, or $1.03, to $14.27 in pre-market trading.
