62° P/SUNNY, Sales jump for Santa Rosa high-tech company
JDSU stock falls in after-hours trading
Last Modified: Wednesday, April 30, 2008 at 1:46 p.m.
Optical technology maker JDSU on Wednesday reported sales at its Santa Rosa division jumped 22 percent in the third quarter, compared to the same period last year.
“Year-over-year financial performance improvements for the first three quarters evidence significant improvement in JDSU’s business model,” CEO Kevin Kennedy said Wednesday.
The company’s Advanced Optical Technologies business, which is headquartered in Santa Rosa, posted adjusted net sales of $56 million, up from $46 million in 2007.
The division reported $50 million in sales for the second quarter of 2008.
Companywide, JDSU posted third-quarter sales of $384 million, compared to $362 million a year ago. JDSU lost $6.2 million, or 3 cents per share, during the quarter.
Milpitas-based JDSU has about 650 employees in Santa Rosa, about 10 percent of its global workforce.
The news sent JDSU stock falling 10 percent in after-hours trading. Earlier in the day, JDSU stock closed at $14.31, down 27 cents on the Nasdaq exchange.
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