AUGUST 4, 2009 -- Finisar Corp. says that, on the basis of preliminary financial results, it expects to report revenues of approximately $134 million for its first quarter ended August 2, 2009 compared to its communicated guidance of $120 to $130 million. The results for the quarter include approximately $7 million in revenues from its former Network Tools business, which was sold July 15, 2009.
The announced revenues are preliminary and subject to adjustment. In addition, under generally accepted accounting principles, revenues recognized during the quarter from the recently sold Network Tools business will be reclassified as "results from discontinued operations" in reporting the Company's final financial results.
Highlights for the quarter include:
- Total revenues, including revenues from discontinued operations, are expected to be approximately $134 million, an increase of approximately $17.3 million, or 15%, from $116.7 million in the preceding quarter and approximately $5.3 million, or 4%, from $128.7 million in the prior year period;
- Optics revenues are expected to be approximately $127 million, an increase of $19.5 million, or 18%, from $107.5 million in the preceding quarter and $11.2 million, or 10%, from $115.8 million in the prior year period. The company noted that product revenues for 10-Gbps applications and ROADMs were particularly strong during the quarter.