Finisar Management Hopes to Buy More Time
Finisar (NASDAQ: FNSR) failed to live up to expectations when it released its fiscal first-quarter results on Sept. 8. Finisar's revenue guidance fell way short of Wall Street's estimates of $372.5 million.
The company is anticipating $332 million in second-quarter revenue at the midpoint of its forecast, down almost 13% from the prior-year period. Management, however, tried to sugarcoat the results by promising a turnaround in the third quarter.
But should investors give Finisar management the benefit of the doubt, given that it had made a similar promise that it later failed to meet with its fiscal fourth-quarter results in June? To find out, let's take a look at the key takeaways from the company's latest earnings call.
Source: Fool.com
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