Why Oplink Communications Shares Got Crushed
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Oplink Communications got crushed today, down 11% at the low, after the company reported earnings.
So what: Revenue in the quarter was $45.1 million, with non-GAAP net income of $4.6 million, or $0.24 per share. Sales were a little light compared to the $45.2 million consensus estimate, while earnings were slightly ahead of the $0.22 per share expected.
Now what: Investors must have been disappointed with Oplink's guidance, though. Revenue in the current quarter is expected to be $42 million to $45 million, making the $46 million consensus a bit of a stretch to reach. Adjusted earnings per share should be in the range of $0.15 to $0.21, the midpoint of which is below the $0.20 per share consensus.
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The article Why Oplink Communications Shares Got Crushed originally appeared on Fool.com.Fool contributor Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.