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JDS Uniphase hurdles 3Q estimates

JDS Uniphase skipped past analysts' estimates in its third quarter Tuesday, earning $85.8 million, or 11 cents a share, on sales of $394.6 million.

Ahead of the earnings report, JDS Uniphase (Nasdaq: JDSU) shares closed up 12 9/16, or 16 percent, to 92 7/8.

First Call Corp. consensus expected it to earn 10 cents a share in the quarter.

The $394.6 million in sales marks a 155 percent improvement from the year-ago quarter when it earned $65.7 million, or 9 cents a share, on sales of $154.9 million.

Including merger-related and purchased intangibles amortization charges, JDS Uniphase reported a loss of $240.9 million, or 32 cents a share, in the quarter.

Last quarter, JDS Uniphase pocketed $66 million, or 18 cents a share, on sales of $282 million.

Its shares moved up to a 52-week high of 153 3/8 in March after falling to a low of 13 13/16 last April.

Thirty-two of the 33 analysts following the stock maintain either a "buy" or "strong buy" recommendation.

First Call analysts are expecting it to earn 37 cents a share in the fiscal year.