Finisar reported financial results for its first fiscal quarter ended July 2006. Total revenues were $106.2 million, up 3.7% on a sequential basis from $102.4 million in the fourth quarter and 30.0% from $81.7 million in the first quarter of the prior year. Total revenues from the sale of optical subsystems were $96.0 million in the first quarter, up 4.5% on a sequential basis from $91.9 million in the fourth quarter and 32.7% from $72.4 million in the first quarter of the prior year.

Sales of network test and monitoring systems of $10.2 million were down 2.5% from $10.5 million in the fourth quarter but were up 9.0% from $9.4 million in the first quarterof the prior year. Net loss of $0.8 million compares to net income of $1.7 million in the fourth quarter and a net loss of $19.1 million in the first quarter of the prior year.