Shares of optical component and equipment makers are trading higher after peer Applied Optoelectronics (AAOI) said it expects first quarter revenue to exceed guidance. “We delivered another strong quarter with our top and bottom-line results expected to exceed our guidance,” said Dr. Thompson Lin, Applied Optoelectronics, founder, president and CEO. “Our results were driven by continued robust demand for our market-leading datacenter products and solid execution. We are pleased with our momentum and look forward to sharing the additional details of our first quarter performance on our conference call in May.”
Q1 PRELIMINARY RESULTS: The company raised its Q1 earnings per share expectations to $1.00-$1.02 from its previous view of 80c-88c. Analysts consensus views for Q1 is 83c. The company sees revenue of approximately $96.2M, above the prior outlook of $87M-$91M. Analysts on average were expecting revenue of $89.7M for the quarter. GAAP and non-GAAP gross margins are anticipated to be in the the range of 42.5%-42.9%, above the prior non-GAAP outlook of 38%-40%.
PRICE ACTION: Shares of Applied Optoelectronics are up almost 19% in after-hours trading.
OTHERS: Shares of other companies in the optical component sector are all trading higher in after-hours, including Finisar (FNSR), Lumentum (LITE), Viavi Solutions (VIAV), NeoPhotonics (NPTN), and Oclaro (OCLR).
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