JDS Uniphase warned of lower-than-expected earnings day after mer...
JDS Uniphase warned of lower-than-expected earnings day after merger with SDL was approved by shareholders Feb. 12. Forecast was reduced because of lull in capital expenditures by telecom companies and expectation of increased expenses for rollout of new products,…
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company said in conference call. It forecast 3rd- quarter sales at $1 billion (17 cents per share), down from analysts’ expectations of 21 cents. Forecast includes SDL results but not transactions between 2 companies and sale of Zurich plant to Nortel Networks. Company’s stock price rebounded from Tues. low of $38.50 to $41.25 at Nasdaq’s Wed. close, up 7.14%. On Toronto Exchange, stock price was $65.50 (Canadian) at our deadline, up 6.14% from previous close.