Applied Optoelectronics: 2Q Earnings Snapshot
SUGAR LAND, Texas (AP) _ Applied Optoelectronics Inc. (AAOI) on Wednesday reported a second-quarter loss of $11.4 million, after reporting a profit in the same period a year earlier.
The Sugar Land, Texas-based company said it had a loss of 57 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 26 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 37 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $43.4 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $42.8 million.
For the current quarter ending in October, Applied Optoelectronics expects its results to range from a loss of 28 cents per share to a loss of 21 cents per share.
The company said it expects revenue in the range of $46 million to $49 million for the fiscal third quarter.
Applied Optoelectronics shares have decreased 34% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.21, a decline of 73% in the last 12 months.