Finisar Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended July 29, 2018; Provides Earnings Guidance for Second Quarter of Fiscal 2019; Announces Impairment of Long-Lived Assets for the First Quarter Ended July 29, 2018: Provides Non-Gaap Tax Rate Guidance for the Remainder of Fiscal 2019
For the second quarter of fiscal 2019, the company currently expects revenues in the range of $315 to $335 million, this is primarily due to an increase in the demand for VCSEL arrays for 3D sensing applications in connection with the expected timing of new product introductions, partially offset by lower revenues associated with 10-gig and below ethernet transceivers, non-GAAP gross margin of approximately 28%, non-GAAP operating margin of approximately 7% to 8% and non-GAAP earnings per fully diluted share in the range of approximately $0.19 to $0.25. In the second quarter Texas facility, The company expects approximately $35 million in capital expenditures for the uplift of the building and additional equipment. the company also expect an additional $28 million in other capital expenditures in the quarter, including $3 million related to the construction and fit out of the third Wuxi building.
For the quarter, impairment of long-lived assets was $186,000.
The company expects non-GAAP tax rate for the remainder of fiscal 2019 is expected to be approximately 10%.