JDS Uniphase (NASDAQ:JDSU) announced on Tuesday that it lost $24.3 million during its fiscal fourth quarter, compared to a $9.3 million profit in the same period last year.
The loss was largely due to charges, including a $23.7 million impairment charges for aging assets as well as a $10.5 million charge for insurance proceeds.
Revenue fell to $439.3 million, down about 7% from $471.8 million in 2011. But that still beat Wall Street, which was looking for revenue of $421.5 million, the Associated Press noted.
Adjusted EPS, excluding the charges, was 15 cents, which topped the 12 cents a share analysts had expected.
Investors liked the news, sending JDS Uniphase shares up more than 10% in Wednesday afternoon trading.
For fiscal 2012, the company lost $57.7 million, compared to a profit of $71.6 million in 2011. Revenue for the year fell to $1.68 billion, down 7% from $1.8 billion last year.
Looking forward, company officials estimate first quarter revenue of between $415 million and $435 million. Wall Street is looking for revenue of $426.1 million.
The equipment testing company said that revenue at its testing and measurement and commercial optical products units fell in year-over-year comparisons, but increased compared to the third quarter of this fiscal year.
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