NeoPhotonics achieves Record Quarter Revenue
NeoPhotonic, a US manufacturer of photonic integrated optoelectronic modules and subsystems, has posted record quarter revenue of $85.4 million for its second quarter ended June 30, 2015.
The figure was up $7.9 million, or 10.2 percent, from the second quarter of 2014, and up $4.0 million, or 4.9 percent, from the prior quarter. Net income was $1.8 million, up from a loss of $6.8 million in Q2 2014, and up from $0.1 million in the prior quarter
Other financial highlights include Non-GAAP Gross Margin to 32.3 percent (up from 20.8 percent Q2 2014), fourth consecutive quarter of Non-GAAP profitability, and third consecutive quarter of GAAP profitability.
"Our goal is to be a leader in High Speed 100G and beyond product solutions and to deliver sustained profitability," said Tim Jenks, NeoPhotonics Chairman and CEO.
"With strong traction of our High Speed 100G and beyond products in transport and Metro markets as well as in rapidly growing Datacenter Interconnect system applications, 59 percent of our revenue was from High Speed 100G and above products. Our second quarter results continue to demonstrate our strong execution towards our profitability goals and our target model with sequential increases in revenue, gross margins, profitability, EBITDA and operating cash flow," said Jenks. "We further bolstered our balance sheet with our equity raise of $45.6 million."
The company's expectations for the third quarter 2015 are for revenue in the range of $77 million to $83 million; Non-GAAP gross margin in the range of 29 percent to 32 percent; diluted net income/loss per share in the range of a loss of 6 cents to earnings of 2 cents, and non-GAAP diluted earnings per share in the range of 1 cent to 9 cents
Based in San Jose, Calfornia, NeoPhotonic uses a variety of silicon and compound semiconductor substrates including InP, GaAs and SiGe and combinations of these platforms to make optoelectronic circuits and related high-speed electronic control functions.
