Finisar Corp Reports Earnings Results for the First Quarter Ended July 30, 2017; Provides Earnings Guidance for the Second Quarter and Fiscal Year 2018
For the second quarter of fiscal 2018, excluding one-time items, the company is projecting non-GAAP fiscal second quarter earnings in a range of $0.27 to $0.33 per share on between $322 million to $342 million in revenue. Capital expenditures for the second quarter of fiscal 2018 are estimated to be approximately $50 million to $55 million. The company expects revenues for datacom products to be relatively flat in the second quarter. The company expects second quarter non-GAAP gross margins to be approximately 33% to 34% due to lower revenue levels, higher depreciation levels and the impact of the annual employee merit increases that took effect approximately August 1. Non-GAAP operating margins are expected to be in the range of 10% to 11%.
Non-GAAP taxes for the remainder of the fiscal year 2018 are estimated at approximately 6%.