Revenue Update on Finisar Corporation(NASDAQ:FNSR)

Finisar Corporation(NASDAQ:FNSR) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Jun 16, 2016. Company reported revenue of $318.79M. Analysts estimated a revenue of $317.38M. Earnings per share were $0.29. Analysts had estimated an EPS of $0.25.

Finisar Corporation (FNSR) shares turned negative on Tuesdays trading session with the shares closing down -0.24 points or -1.27% at a volume of 16,25,680. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.77. The peak price level was also seen at $18.77 while the days lowest was $18.33. Finally the shares closed at $18.59. The 52-week high of the shares is $20.06 while the 52-week low is $10.66. According to the latest information available, the market cap of the company is $2,002 M.

Several Insider Transactions has been reported to the SEC. On Mar 30, 2016, Jerry S Rawls (Chairman of the Board & CEO) sold 25,038 shares at $18.00 per share price.Also, On Mar 30, 2016, Kurt Adzema (EVP & Chief Financial Officer) sold 42,628 shares at $18.24 per share price.On Mar 24, 2016, Joseph A Young (EVP Global Operations) sold 17,697 shares at $18.67 per share price, according to the Form-4 filing with the securities and exchange commission.

Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters receivers transceivers transponders optical engines and active optical cables that provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in communication networks including the switches routers and servers used in wireline networks as well as the antennas and base stations used in wireless networks. These products rely on the use of semiconductor lasers and photodetectors in conjunction with integrated circuits and optoelectronic packaging to provide a means for transmitting and receiving digital signals over fiber optic cable at speeds ranging from less than one gigabit per second to more than 100 gigabits per second over distances of less than 10 meters to more than 2000 kilometers.

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