Yesterday, after the closing bell, JDS Uniphase Corp. ( JDSU - Analyst Report ) declared better financial results for the second quarter of fiscal 2013 beating both the top and bottom lines of the Zacks Consensus Estimates.

Quarterly net revenue was $429.4 million, up 4.9% year over year and also above the Zacks Consensus Estimate of $425 million. On a GAAP basis, quarterly net income from continuing operations was $3.3 million or a profit of 2 cents per share compared to a net loss of $7.7 million or 3 cents per share in the year-ago quarter. However, quarterly adjusted (excluding special items) earnings per share were 12 cents above the Zacks Consensus Estimate by 2 cents.

Adjusted gross margin in the reported quarter was 44.1% compared with 42.6% in the year-ago quarter. In the reported quarter, operating expenses were $174.1 million, down 0.3% from the prior-year quarter. Quarterly adjusted operating margin was 11.3% compared with 9.8% in the year-ago quarter. Total segment operating income in the reported quarter was $49 million against $40 million in the prior-year quarter.

At the end of the second quarter of fiscal 2013, JDS Uniphase had $709.9 million of cash & marketable securities and zero debt on its balance sheet compared with $921.6 million of cash & marketable securities and no outstanding debt on its balance sheet at the end of fiscal 2012. JDS Uniphase generated $59.4 million of cash from operations in the previous quarter.

Revenue Segments

In the second quarter of fiscal 2013, Communications Test and Measurement segment accounted for $195.4 million of revenue, down 0.4% year over year. Communications and Commercial Optical Products segment generated $185.5 million, up 13.8% year over year. Within this segment, Optical Communications revenue was $155.6 million, up 12.7% from the prior-year quarter and Commercial Lasers business revenue was $30.2 million, up 20.3% from the prior-year quarter. Optical Security and Performance segment generated the remaining $48.2 million revenue, representing an annualized decline of 4%.

Geographic Segments

In the second quarter of fiscal 2013, the Americas segment accounted for 49.9% of the total revenue, the EMEA segment generated 23.8% and the remaining 26.3% came from the Asia-Pacific region.

Financial Outlook

For the third quarter of fiscal 2013, management expects the company’s non-GAAP revenue to be within the range of $405-$425 million.

Currently, JDS Uniphasehas a Zacks Rank #2 (Buy).

Certain other companies belonging to the same industry are Finisar Corp. (FNSR), Oplink Communications Inc. ( OPLK - Snapshot Report ) , and Oclaro Inc. ( OCLR - Snapshot Report ) . While Finisar is set to release its financial results on Mar 4, both Oplink Communications and Oclaro Inc. declared second-quarter 2013 results, yesterday.