Tech Industry

JDS Uniphase rolls past 1Q estimates

JDS Uniphase hurdled analysts' estimates in its first quarter Thursday, earning $177 million, or 18 cents a share, on sales of $786 million.

First Call Corp. consensus expected the Canadian fiber-optic equipment maker to earn 16 cents a share.

JDS Uniphase (Nasdaq: JDSU) shares closed up $3.44 to $74.44 ahead of the earnings report.

The $786 million in sales marks a 171 percent improvement from the year-ago quarter when it earned $65 million, or 8 cents a share, on sales of $290 million.

JDS Uniphase shares pulled back this week along with other network-equipment makers after Nortel Networks (NYSE: NT) reported disappointing sales in its latest quarter.

Last quarter, JDS Uniphase topped analysts' estimates, earning $114 million, or 14 cents a share, on sales of $524 million.

Its shares rallied up to a 52-week high of $155.38 in March after falling to a low of $33.75 last October.

Thirty-two of the 35 analysts following the stock maintain either a "buy" or "strong buy" recommendation.

First Call Corp. consensus expects it to earn 70 cents a share in the fiscal year.