Despite Weak 2Q Results and Guidance, Finisar Expanded 3D Sensing Capacity; Keeping FVE at $30
Finisar posted weak results for the October quarter, on lower revenue and margin than our expectations. Total revenue was $332 million in the quarter, down 3% sequentially, versus our projection of a 1% drop, on weaker Telecom revenue. The top line weighed on the non-GAAP operating margin, which was 7.8% in the quarter, down from 13.5% last quarter. However, the firm delivered on all three growth catalysts (100G transceivers, 3D sensing lasers, and Verizon qualifications for its telecom products...Finisar is engaged in optical communications, providing components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics and automotive companies. The company's optical subsystems consist primarily of transmitters, receivers, transceivers, transponders and active optical cables, which provide the optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks as well as the antennas and base stations used in wireless networks. The company also provides products known as wavelength selective switches.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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