Shares in Finisar Corporation (NASDAQ:FNSR) were firmer pre-market after the fiber optic specialist reported revenue and earnings ahead of Wall Street estimates.
Revenues grew by 2.5% to $332.1 million in the three months ended October, boosted by strong sales of components used in 3D technology.
This boosted per share earnings by 3 cents year-on-year to 26 cents, which was ahead of forecasts of around the 21 cents mark.
Gross profit margins improved, thanks primarily to a “favorable product mix”, said chief executive Michael Hurlston.
He added: “In addition, we were able to accelerate the process of improving efficiencies and reducing relative operating expense levels faster than expected. In combination, this led to increased earnings per share, exceeding the high end of our guidance range.”
At 9.22am, the stock was changing hands for $23.35, up 2.5% on Friday’s close.