Finisar ( FNSR ) earnings 9/09/09 - FNSR swings to Q1 Profit

Finisar ( FNSR ) is up in pre market this more due to the profit they reported on 9/09/09 in their Q1 earnings report. FNSR is up 18% to $1.40 in Pre Market Trading.

The Sunnyvale-based company swung to a profit with net income of $4.7 million, or 2 cents per share, during the three months ended Aug. 3. During the same period last year, Finisar recorded a loss of $7.3 million, or 2 cents a share.

Excluding one-time charges, Finisar earned 4 cents per share, a penny higher than the average estimate of analysts polled by Thomson Reuters.

Sales were $128.7 million, a company record and a 22 percent jump over the year-ago period. Analysts were expecting sales of $123 million