Finisar Corporation (NASDAQ:FNSR) shares gained by 15.42%


Dallas, Texas 08/08/2013 (Financialstrend) – Finisar Corporation (NASDAQ:FNSR) had recently made announcements on the preliminary results for the first quarter of fiscal year 2013, which was observed to have exceeded the prior guidance reported by the company. It was announced that the company would expect revenue generation for the first quarter that ended on July 28, 2013 to be at $266 million, compared to the earlier guidance at $245 million to $260 million. This would prove to be a significant milestone achievement in revenue generation for the company and would be recorded as the fourth consecutive quarter of revenue growth.

It was announced that such higher level of growth in revenues was primarily obtained through the increase in sales of Ethernet transceivers of 10G, 40G and 100G varieties for datacom applications. It is further expected that Finisar Corporation (NASDAQ:FNSR)’s non GAAP adjusted gross profits margin would be at 34.5% to 35% compared to the earlier guidance of 33%. Further, the non GAAP earnings per share for the first quarter is expected to be at $0.30 to $0.31 per share compared to the earlier estimates of $0.22 to $0.26 for the first quarter.

Finisar Corporation (NASDAQ:FNSR) had gained by 15.42% on Wednesday to close the session with a price of $22.08 per share. The stock had been moving throughout the day with lowest price of $21.30 per share and highest price of $22.65 per share. The company’s 52 week low price is presently at $10.95 and 52 week high price is at $22.65 per share. There had been a trading volume of 8.06 million shares for the company on Wednesday and the average level of trading volume is at 1.83 million shares per day. The stock presently has 93.43 million shares in the market and the institutional holding is around 99% of the total capital. The market cap value of the company is at $2.06 billion.

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