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E-Tek tops 3Q forecasts

    E-Tek Dynamics (Nasdaq: ETEK) beat estimates in the third quarter.

    After market close Tuesday, the maker of components for optical networks reported fiscal third quarter net income of $17.3 million, or 24 cents per share, excluding goodwill writedowns. First Call's survey of 16 analysts predicted a profit of 21 cents per share for the quarter ended April 1.

    Including amortization, E-Tek earned $12.1 million, or 17 cents per share.

    Third quarter revenue rose to $90.6 million, up 83 percent from $49.5 million in the year ago period.

    Tuesday's announcement could mark the last quarterly report from E-Tek. The company currently expects its pending sale to rival JDS Uniphase (Nasdaq: JDSU) to be concluded in the second quarter of calendar 2000.

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