Finisar Corporation Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended April 29, 2018; Provides Earnings Guidance for the First Quarter of Fiscal 2019; Announces Impairment of Long-Lived Assets for the Fourth Quarter Ended April 29, 2018
For the year, the company reported revenues of $1,316,483,000 compared to $1,449,303,000 a year ago. Income from operations was $6,513,000 compared to $176,884,000 a year ago. Loss before income taxes was $15,005,000 compared to the income of $163,194,000 a year ago. Net loss was $48,287,000 or $0.42 per diluted share compared to the income of $249,346,000 or $2.19 per diluted share a year ago. Non-GAAP operating income was $99,195,000 compared to $240,556,000 a year ago. Non-GAAP income before income taxes was $110,920,000 compared to $244,398,000 a year ago. Non-GAAP net income was $100,420,000 or $0.86 per diluted share compared to $231,698,000 or $2.03 per diluted share a year ago.
For the first quarter of fiscal 2019, the company currently expects revenues in the range of $305 million to $325 million, non-GAAP gross margin of approximately 26% to 27%, non-GAAP operating margin of approximately 4% to 5%, and non-GAAP earnings per fully diluted share in the range of approximately $0.10 to $0.16. Non-GAAP tax rate for fiscal 2019 is estimated at 11% to 13%.
The company also announced impairment of long-lived assets of $371,000 for the fourth quarter ended April 29, 2018.