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Oclaro: Fiscal 1Q Earnings Snapshot

Oclaro: Fiscal 1Q Earnings Snapshot

Associated Press

SAN JOSE, Calif. (AP) _ Oclaro Inc. (OCLR) on Thursday reported fiscal first-quarter earnings of $10.2 million.

The San Jose, California-based company said it had profit of 6 cents per share. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The optical communications company posted revenue of $131.7 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $128.1 million.

Oclaro shares have risen 28 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.64, a climb of 40 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OCLR at https://www.zacks.com/ap/OCLR