UPDATE 1-Finisar Q2 tops market, sees strong Q3

* Q2 adj EPS from cont ops $0.44 vs est $0.38

* Q2 rev $240.9 mln vs est $229.7 mln

* Gives Q3 view above estimates

* Shares rise 6 pct after the bell

Dec 1 (BestGrowthStock) – Network equipment maker Finisar Corp
(FNSR.O: ) reported second-quarter results above market
expectations on strong demand for closed networking products,
and forecast its third fiscal quarter above estimates, sending
its shares up 6 percent.

For the August-October period, the company earned $33.8
million, or 39 cents a share, from continuing operations.
Excluding special items, it earned 44 cents a share from
continuing operations, while analysts were expecting a profit
of 38 cents a share.

The company, which makes fibre-optic subsystems used by
network communication providers and telcos to monitor traffic,
reported a 65 percent increase in revenue at $240.9 million, as
sales of 10Gbps or higher speed products nearly doubled.

Analysts on average had expected revenue of $229.7 million
for the three month period, according to Thomson Reuters
I/B/E/S.

For the January quarter, the company said it expects to
earn 45-47 cents a share, excluding items, on revenue of
$247-$262 million.

Analysts were expecting earnings of 41 cents a share, on
revenue of $240.5 million.

Shares of Sunnyvale, California-based Finisar have gained
45 percent in value since it announced strong first-quarter
results in September. They rose 6 percent in extended trading
after closing at $19.77 on Wednesday on Nasdaq.
(Reporting by Himank Sharma in Bangalore; Editing by Gopakumar
Warrier)

UPDATE 1-Finisar Q2 tops market, sees strong Q3