JDS Uniphase Cuts
Sales Outlook
Monday September 23, 6:12 pm ET
SAN JOSE, Calif. (AP) -- JDS Uniphase Corp., citing continued weakness in the telecommunications market, lowered its first quarter sales outlook to between $190 million and $200 million.
In a news release, the San Jose-based optical technology company said Monday it expects to report an operating loss of 6 to 8 cents a share in the first quarter, excluding restructuring costs.
The pro forma loss is unchanged from the company's July outlook, and compares with analysts' estimates of a loss of 6 cents a share for the period, according to Thomson First Call.
JDS previously announced a first quarter sales outlook in the range of $200 million to $210 million.
The company said its lower sales estimate for the first quarter, which ends Sept. 30, reflects contract cancellations of $10 million to $20 million.
On the Nasdaq Stock Market, shares of JDS closed Monday down 27 cents, or 13 percent, at $1.87. The closing quote was also a low for the day and for the last 52 weeks.