Oclaro Inc. Q1 adjusted earnings Miss Estimates

(RTTNews) - Oclaro Inc. (OCLR) announced earnings for first quarter that decreased from the same period last year.

The company's profit totaled $10.23 million, or $0.06 per share. This compares with $26.49 million, or $0.16 per share, in last year's first quarter.

Excluding items, Oclaro Inc. reported adjusted earnings of $14.44 million or $0.08 per share for the period.

Analysts had expected the company to earn $0.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.4% to $131.66 million from $155.60 million last year.

Oclaro Inc. earnings at a glance:

-Earnings (Q1): $14.44 Mln. vs. $34.46 Mln. last year. -EPS (Q1): $0.08 vs. $0.20 last year. -Analysts Estimate: $0.09 -Revenue (Q1): $131.66 Mln vs. $155.60 Mln last year.