Applied Optoelectronics: 3Q Earnings Snapshot
SUGAR LAND, Texas (AP) _ Applied Optoelectronics Inc. (AAOI) on Wednesday reported a third-quarter loss of $3.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Sugar Land, Texas-based company said it had a loss of 19 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 14 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The maker of fiber optic products used by cable TV providers posted revenue of $56.4 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $56.8 million.
For the current quarter ending in December, Applied Optoelectronics expects its results to range from a loss of 7 cents per share to earnings of 4 cents per share.
The company said it expects revenue in the range of $56 million to $63 million for the fiscal fourth quarter.
Applied Optoelectronics shares have decreased 49 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.38, a drop of 49 percent in the last 12 months.