Applied Optoelectronics: 2Q Earnings Snapshot
SUGAR LAND, Texas (AP) _ Applied Optoelectronics Inc. (AAOI) on Tuesday reported second-quarter profit of $8 million.
On a per-share basis, the Sugar Land, Texas-based company said it had net income of 40 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 64 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $87.8 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $77.3 million.
For the current quarter ending in October, Applied Optoelectronics expects its per-share earnings to range from 54 cents to 75 cents.
The company said it expects revenue in the range of $82 million to $92 million for the fiscal third quarter.
Applied Optoelectronics shares have decreased roughly 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $37.23, a decline of 47 percent in the last 12 months.