Gestern nachbörslich Quartalszahlen gemeldet. Erwartungen weit übertroffen (in diesen Zeiten!), Prognosen angehoben.
Zudem war die Aktie in der jüngeren Vergangenheit extrem volatil (Shortsqueeze möglich) und der Glasfasersektor zeigte sich gestern gut erholt (Lucent, Corning trotz Gewinnwarnung).
Exfo ist letztes Jahr an die Börse gegangen und stellt Testsysteme für Glasfasernetze her. Kunde unter anderem Deutsche Telekom.
Vorsicht, da in Deutschland sehr markteng!
Vorbörslich z.Z. bei $28,5
OTTAWA (Reuters) - EXFO Electro-Optical Engineering Inc.
(Toronto:EXF.TO - news) (NasdaqNM:EXFO - news) bucked the
trend of warnings from telecommunications gear suppliers on Monday,
lifting its 2001 estimates and beating analysts' second-quarter forecasts
amid growing demand for its fiber-optic testing, monitoring and
measuring equipment.
EXFO raised its guidance for the third time in three months, citing its diverse customer base, broad
product range and high-demand equipment.
Fueled by strong sales and savings from its recent acquisitions, EXFO said it now expects 2001 cash
earnings of 40 to 50 cents per share, up from a first quarter increase in estimates to 40 to 45 cents.
The company's revenue target was also lifted to between $150 million and $165 million, from January
guidance of $140 million to $150 million.
EXFO lifted its 2001 revenue forecast on March 6, when it announced its $122 million acquisition of
EFOS Inc., to $150 million to $160 million, while maintaining its earnings target at 40 to 45 cents per
share.
For the second quarter, the company reported net earnings, excluding amortization of assets and
goodwill, of $7.5 million, or 14 cents a share, versus year-earlier earnings of $2.5 million, or 6 cents a
share.
Analysts polled by research firm First Call/Thomson Financial forecast earnings of 9 cents a share and
revenues of $33 million.
Including amortization of goodwill, EXFO posted earnings of $24,000, or nil per share, versus last
year's $2.4 million, or 6 cents a share.
The company said its second-quarter cash earnings from operations rose just 2 cents per share from
the first quarter once after-tax gains were factored in.
Quebec City-based EXFO posted revenues of $36.3 million, a 108 percent gain over last year's $17.4
million.
The rare increase in estimates comes as Corning Inc. (NYSE:GLW - news), the world's No. 1 maker
of fiber-optic cable, said on Monday its 2001 profits would come in below estimates and more layoffs
could be pending amid slower spending by customer.
The warning echoes similar cuts by JDS Uniphase Corp. (Toronto:JDU.TO - news), the world's
biggest supplier of fiber-optic components, and Nortel Networks Corp. (Toronto:NT.TO - news), the
world's largest supplier of fiber-optic network equipment.
Sales have been slipping for several suppliers of fiber-optic equipment, which sends information as
high-speed light waves through glass cables, amid a spending slowdown from phone companies and
service providers sparked by a downturn in the U.S. economy.
``We have been able to maintain this upward trend because we're strategically positioned in
high-growth markets,'' said EXFO chief executive Germain Lamonde in a statement.
``We also supply all stripes of customers in the fiber-optic industry, including network service
providers, system and component manufacturers, as well as research labs with in excess of 80 product
lines.''
The second-quarter results include revenues from Burleigh Instruments Inc., which sells precision
positioning equipment and sophisticated meters to test optical equipment. EXFO purchased the
company in a $275 million deal in November.
EXFO, which has set an aggressive acquisition strategy, has also closed a deal to buy Vanguard
Technical Solutions Inc., which makes automation equipment.
``This string of transactions is part of our acquisition strategy to strengthen our position in the optical
component manufacturing market,'' Lamonde said.
``Manufacturers are faced with a pressing need to increase yields and volumes while reducing costs in
order to meet the fiber-optic industry's growing demand for bandwidth.''
Shares in EXFO added 20 Canadian cents to end at C$36.70 on the Toronto Stock Exchange, before
the results were released. The stock is well off its 52-week high of C$134.00 and only edging above
its low of C$26.00. On Nasdaq, the stock ended at $23-1/4, up 1/4.
($1-$1.57 Canadian)
Gruß Dampf
