Finisar Corporation announced earnings results for the second quarter ended November 1, 2015. For second quarter ended November 1, 2015, the company announced adjusted net income was $26.9 million or $0.25 per share. On a reported basis, the company swung to a profit of $6.6 million or $0.06 per share from a loss of $11.4 million or $0.11 per share a year earlier. Revenues rose to $321.1 million from $297.0 million in the year-ago period, up from $314 million in the prior quarter, a quarter-to-quarter increase of just over 2%. This increase was primarily from strong sales of 100-gigabit Ethernet transceivers, 10-gigabit tunable transceivers and wavelength selective switches. Non-GAAP operating income increased $1.8 million to $28.3 million or 8.8% of revenue compared to $26.5 million or 8.4% in the preceding quarter, primarily as a result of higher revenue levels. Non-GAAP income was $26.9 million or $0.25 per diluted share compared to $24.5 million or $0.23 in the preceding quarter. Second quarter capital expenditures totaled $29.5 million, lower than forecast of approximately $35 million.

For the third quarter of 2015, the company expects adjusted EPS of $0.19 to $0.25 a share on revenues of $300 million to $320 million. Capital expenditures are expected to be approximately $35 million in the third quarter. Non-GAAP taxes for the third and fourth quarter are estimated at approximately 7.5%. Weighted average fully diluted shares for the third fiscal quarter are expected to be approximately 108.5 million for non-GAAP purposes. The company generated net income of $6.6 million or $0.06 per diluted share compared to net income of $3.4 million or $0.03 per diluted share in the preceding quarter.