Applied Optoelectronics Announces Preliminary First Quarter 2016 Results

Mon April 18, 2016 4:03 PM|GlobeNewswire | About: AAOI


SUGAR LAND, Texas, April 18, 2016 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. ( AAOI), a leading provider of fiber-optic access network products for the internet datacenter, cable broadband, and fiber-to-the-home markets, today announced certain preliminary financial results for its first quarter ended March 31, 2016.

“We expect first quarter revenue to be within our guided range, representing at least 65% year-over-year growth, however our bottom line results were impacted by higher than expected cost of goods sold and research and development costs. These additional costs were incurred due to lower than anticipated yields on certain longer-reach 40G light engines and redesign activities associated with manufacturing cost reduction efforts,” said Dr.Thompson Lin, Applied Optoelectronics, Inc. founder, Chairman and CEO.

Total revenue in the first quarter 2016 is expected to be between $50.0 million and $50.5 million, within the company’s guidance range of $50 million to $54 million.

The company expects to report GAAP and non-GAAP gross margin in the first quarter 2016 in the range of 28.0% to 28.5%, compared with prior non-GAAP guidance of 31.0% to 32.5%.

The company expects to report a GAAP net loss in the first quarter 2016 between $1.5 million and $1.8 million, or $0.09 and $0.11 per basic share. On a non-GAAP basis, the company expects a net loss between $0.7 million and $1.0 million, or $0.04 and $0.06 per basic share, using approximately 16.9 million shares. This is below the previous non-GAAP net income guidance range of $3.8 million to $5.0 million, and non-GAAP fully diluted earnings per share guidance range of $0.21 to $0.28, which was based on approximately 17.8 million shares.

These are preliminary results and remain subject to the completion of the company's customary quarterly close and review procedures. Material adjustments may arise between the date of this press release and the dates on which Applied Optoelectronics announces its full first quarter 2016 results and files its Form 10-Q for the first quarter with the SEC ( SCUR).

First Quarter 2016 Conference Call

Applied Optoelectronics will release its full financial results for the first quarter 2016 after U.S. markets close on Monday, May 9, 2016.

The company will host a conference call and webcast for analysts and investors to discuss its first quarter results and outlook for its second quarter of 2016 at 4:30 p.m. Eastern time / 3:30 p.m. Central time. Open to the public, investors may access the call by dialing (412) 317-6789.

A live webcast of the conference call and supplemental financials will be accessible from the company's website at investors.ao-inc.com. Following the webcast, an archived version will be available on the website for one year. A telephonic replay of the call will be available two hours after the call and will run for five business days and may be accessed by dialing (412) 317-0088 and entering passcode 10083549.