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SUNNYVALE, Calif. (AP) - Wireless network component maker Finisar Corp. said Friday it expects its fiscal fourth-quarter sales to beat Wall Street forecasts.
The company anticipates sales for the period ended April 30 of approximately $120 million, well above the $113.4 million average forecast from analysts polled by Thomson Financial.
Finisar, which is slated to report results June 12, makes equipment that allows high-speed connection over local area networks. Customers include Hewlett-Packard and IBM.
The company also said Friday it will buy cable TV and computer network component maker Optium Corp. for approximately $212 in an all-stock deal. The deal will not be completed by the end of the fiscal fourth quarter.
Finisar shares were up 11 cents, or 8.3 percent, to $1.44 in morning trading.
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