JDS Uniphase (JDSU) Beats, Guides Up – Stock Soars

The stock ticker formerly known as J(ust) D(on’t) S(ell) U(s) continues its revival as ‘Internet Revolution 2: The Mobile Strikes Back’ is bringing back a lot of the 1999 names. JDS Uniphase – the poster child for NASDAQ excess in 1999 – reported a stellar quarter with raised guidance and the stock has gained nearly 25% this morning. I first mentioned the name on the site almost a year ago around $11 and again a month after near $13.

This is the highest the stock has traded since 2006, and anyone who has from the top in 1999 is probably only down 86% after this move up. :)

It is taking other optical networking names such as Finisar (FNSR) and Ciena (CIEN) right up with it.

JDSU came in at $0.29 v expectation of $0.19 EPS, and revenue jumped 38% to $473.5M vs expectation of $438.6M. Gross margin jumped nicely to 48.8% versus the year ago 44.6%, and quarter ago 47.4%.

Test and measurement product revenue was up 27% from Q1, and up 30%, year over year. Communications and optical products revenue was 14% from Q1 and up 70% from the prior-year period.

Guidance change vs analysts $420.8M:

For the third quarter of fiscal 2011, ending April 2, 2011, the Company expects non-GAAP net revenue to be in the range of $440 to $460 million.

Full report here.

JDS Uniphase (NASDAQ:JDSU) enables broadband and optical innovation in the communications, commercial and consumer markets. JDSU is a leading provider of communications test and measurement solutions and optical products for telecommunications service providers, cable operators, and network equipment manufacturers.

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About Mark Hanna 543 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

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