Finisar Corporation reported unaudited consolidated earnings results for the second quarter and six months ended October 29, 2017. For the quarter, the company reported revenues of $332,205,000 against $369,863,000 a year ago. Income from operations was $9,467,000 against $52,828,000 a year ago. Income before income taxes was $5,193,000 against $51,619,000 a year ago. Net income was $5,857,000 or $0.05 per basic and diluted share against $48,765,000 or $0.43 per diluted share a year ago. Operating income - non-GAAP was $25,914,000 against $68,250,000 a year ago. Income before income taxes - non-GAAP was $28,289,000 against $68,754,000 a year ago. Net income - non-GAAP was $26,089,000 or $0.23 per diluted share against $65,154,000 or $0.58 per basic and diluted share a year ago.

For the six months, the company reported revenues of $674,011,000 against $711,188,000 a year ago. Income from operations was $39,379,000 against $81,139,000 a year ago. Income before income taxes was $26,838,000 against $77,611,000 a year ago. Net income was $25,716,000 or $0.22 per diluted share against $72,714,000 or $0.62 per basic and diluted share a year ago. Operating income - non-GAAP was $71,919,000 against $111,770,000 a year ago. Income before income taxes - non-GAAP was $76,689,000 against $112,579,000 a year ago. Net income - non-GAAP was $71,839,000 or $0.62 per diluted share against $106,979,000 or $0.95 per basic and diluted share a year ago.

The company indicated that for the third quarter of fiscal 2018 it currently expects revenues in the range of $325 to $345 million, non-GAAP gross margin of approximately 30%-31%, non-GAAP operating margin of approximately 7.5% -8.5%, and non-GAAP earnings per fully diluted share in the range of approximately $0.21 to $0.27.