Schedules First Quarter Conference Call

SUNNYVALE, CA -- (Marketwire) -- 08/04/09 -- Finisar Corporation (NASDAQ: FNSR), a global technology leader for fiber optic subsystems and components for communication applications, today announced that, on the basis of preliminary financial results, it expects to report revenues of approximately $134 million for its first quarter ended August 2, 2009 compared to its communicated guidance of $120 to $130 million. The results for the quarter include approximately $7 million in revenues from its former Network Tools business, which was sold July 15, 2009.

The announced revenues are preliminary and subject to adjustment. In addition, under generally accepted accounting principles, revenues recognized during the quarter from the recently sold Network Tools business will be reclassified as "results from discontinued operations" in reporting the Company's final financial results.

Highlights for the quarter:

--  Total revenues, including revenues from discontinued operations, are
    expected to be approximately $134 million, an increase of approximately
    $17.3 million, or 15%, from $116.7 million in the preceding quarter and
    approximately $5.3 million, or 4%, from $128.7 million in the prior year
    period;
--  Optics revenues are expected to be approximately $127 million, an
    increase of $19.5 million, or 18%, from $107.5 million in the preceding
    quarter and $11.2 million, or 10%, from $115.8 million in the prior year
    period.  The Company noted that product revenues for 10Gb/s applications
    and ROADMs were particularly strong during the quarter.
    

CONFERENCE CALL

Finisar will discuss its financial results for the first fiscal quarter and its business outlook during a regular quarterly conference call currently scheduled for Thursday, September 10, 2009, at 2:00 p.m. PDT/5:00 EDT. To listen to the call you may connect through the investor page of Finisar at www.finisar.com or dial (866) 393-6455 (domestic) or (706) 643-4465 (international) and enter conference ID 23224474.

A replay of the webcast will be available shortly after the conclusion of the call on the Company's website until the next conference call to be held approximately 90 days from today. An audio replay of the call will be accessible to the public by calling (800) 642-1687 (domestic) or (706) 645-9291 (international) and then, following the prompts, enter conference ID 23224474 and record your name, affiliation, and contact number.