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JDS Uniphase (JDSU) announced it business fell to pieces in the last quarter. On a non-GAAP basis, the company said it would have earned $15.5 million, or 7 cents per share. Revenue grew to $390.3 million from $350.7 million last year. Analysts were expecting earnings of 10 cents a share on revenue of $395.8 million, according to consensus estimates from Thomson Reuters, writes MarketWatch.
The market was upset and pushed the shares down 11% in the pre-market, falling to $10.50, about $1 from its 52-week low. Over the last two years, JDSU is down about 50%.
JDS Uniphase Kevin Kennedy has done unusually well compared to his shareholders. According to the company’s last proxy, he made a base salary of $575,000 and had total compensation of over $1.9 million.
It’s good to be king.
Douglas A. McIntyre
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