Finisar Corporation (NASDAQ: FNSR) below -0.13% and ended at $-0.03. The stock’s market capitalization arrived at $2.762B and total traded volume was 828,937 shares. The stock has a 52-week highest price of $24.77 and its 52-week lowest price was called at $14.25. During last trade, its maximum trading price was registered $23.55 and it’s the minimum trading price was noted $23.21.
Finisar Corporation (NASDAQ: FNSR), a global technology leader for subsystems and components for fiber optic communications, recently reported financial results for its second quarter of fiscal 2019, ended October 28, 2018.
Financial Statement Highlights for the Second Quarter of Fiscal 2019:
- Revenues increased by $8.1M, or 2.5%, contrast to the first quarter of fiscal 2019, as a result of increased sales of wavelength selective switches and VCSEL arrays for 3D applications.
- GAAP gross margin improved from 25.4% in the first quarter to 26.3%, primarily Because of favorable product mix and continued focus on reducing manufacturing overhead.
- Non-GAAP gross margin improved from 27.5% in the first quarter to 28.3%.
- GAAP operating expenses reduced from 30.4% of revenue in the first quarter to 27.6%, as we were able to accelerate the process of improving efficiencies and reducing relative operating expense levels faster than predictable.
- Non-GAAP operating expenses reduced from 21.5% of revenue in the first quarter to 19.5%, which is within the range of our operating model target of 18 to 20%.
- GAAP operating loss reduced $11.6M, or 73.8%, contrast to the first quarter.
- Non-GAAP operating income increased $9.8M, or 51.9%, contrast to the first quarter.
- GAAP operating margin improved from (4.9) % of revenue in the first quarter to (1.3)%Because of the combination of higher revenues, better gross margins and lower operating expense levels.
- Non-GAAP operating margin improved from 5.9% in the first quarter to 8.8%.
- GAAP diluted earnings per share improved from $(0.16) in the first quarter to $(0.04).
- Non-GAAP diluted earnings per share increased from $0.18 in the first quarter to $0.26.
- Cash, cash equivalents and short-term investments increased about $11M from the first quarter despite higher than typical levels of capital expenditures associated with the continued progress on our new Sherman fab for VCSEL arrays for 3D sensing applications and the construction of the third building at our Wuxi, China manufacturing site.
FNSR Volatility and Short Ratio
Last week volatility change was perceived by 1.73% and the stock help 1.66% change in the last month. FNSR has a beta of 1.41. The Firm faced the short ratio at 5.86 and the short float is around of 8.98%.