Cienaand JDS Uniphaseshowed on Thursday that it’s still hard to make money in the telecom equipment market.
Ciena posted a third-quarter pro forma loss of $21.6 million, or 4 cents a share, and JDS lost $21.8 million, or 2 cents a share, after excluding restructuring and other charges. Those numbers were in line with Wall Street estimates, but both stocks fell about 4% in Thursday trading.
Cienaposted a healthy 46% surge in revenues to $110.5 million, while JDS’ sales slipped 2% to $170.9 million. Including acquisitions, JDS’ revenue will swell to about $250 million next quarter.
The broader market was mixed Thursday after a report showed that manufacturing was slowing even before Hurricane Katrina struck. Speculation grew that the Federal Reserve may need to halt its rate-hike campaign. August unemployment will be reported Friday morning.
The Nasdaq slipped 4 to 2147, the S&P added 1 to 1221, and the Dow lost 22 to 10,459. Volume declined to 2.23 billion shares on the NYSE, and 1.67 billion on the Nasdaq. Advancers led 20-12 on the NYSE, and by a few issues on the Nasdaq. Upside volume was 56% on the NYSE, and 42% on the Nasdaq. New highs-new lows were 287-27 on the NYSE, and 147-43 on the Nasdaq.
Opswaretacked on 1% on its results.
Avidsurged 13% after announcing new software applications for Apple’sOS X operating system.