WEB NEWS Comments & Business Outlook
Third Quarter 2013 Results
Revenues for the third quarter of 2013 totaled $23,074,000, an 86% increase from revenues of $12,390,000 reported in the third quarter of 2012, and a 21% increase from revenues of $19,039,000 reported in the previous quarter.
The company recorded net income for the third quarter of 2013 of $5,621,000, or $0.31 per share, compared to $1,892,000, or $0.11 per share, for the third quarter of 2012.
Peter Chang, President and Chief Executive Officer, commented, "With the growing demand in data communication, we continued making progress in the business in the last quarter, and delivered record quarterly revenue exceeding the previous guidance. In addition, profit margins improved and resulted in record profits. The balance sheet continued to strengthen with improved inventory turns and a higher net cash balance."
"Data bandwidth demands continue to increase and the next growth cycle in the fiber optics industry is emerging. While we are pleased with delivering record financial performance for this year, we are excited with the business prospects in the coming years. Even with year-end seasonal effects in the fourth quarter of 2013, we expect revenues in the quarter to be at a similar level, between $21.5M and $23.5M, which would represent 77% to 93% growth on a year over year basis. With this range of quarterly revenue, we believe we will end the year of 2013 with record sales and record profits as well," concluded Mr. Chang.
Comments & Business Outlook
SUNNYVALE, Calif., Sept. 17, 2013 (GLOBE NEWSWIRE ) -- Alliance Fiber Optic Products, Inc. (Nasdaq:AFOP ), an innovative supplier of fiber optic components, subsystems and integrated modules for the optical network equipment market, today announced that it will raise its financial guidance for the quarter ended September 30, 2013.
For the third quarter of 2013, the Company expects to report net sales above $22 million, exceeding the previously stated revenue guidance of $19.5 to $20.5 million provided in the second quarter, 2013 conference call. This revenue level represents a 16% and 78% increase on a sequential and year over year basis respectively.
"With increased demands for datacomm applications, customer orders have been stronger than expected, since the last conference call. We are excited with this development and the opportunity to deliver another record quarterly financial milestones the third quarter. We will continue our capacity expansion efforts to support our customers' growing requirements and to increase AFOP market share in this emerging industry growth cycle," commented by Peter Chang, President and Chief Executive Officer.
Detailed financial results for the third quarter as well as the outlook for the fourth quarter of 2013 will be provided, when complete third quarter end results are announced on a conference call to be held in October, 2013.
Comments & Business Outlook
SUNNYVALE, Calif., May 22, 2013 (GLOBE NEWSWIRE ) -- Alliance Fiber Optic Products, Inc. (Nasdaq:AFOP), an innovative supplier of fiber optic components, subsystems and integrated modules for the optical network equipment market, today announced that it will raise its financial guidance for the quarter ended June 30, 2013.
For the 2nd quarter of 2013, the Company expects to report net sales above $16 million, exceeding the previously stated revenue guidance of $14 million provided in the first quarter, 2013 conference call. This revenue level represents a 32% and 39% increase on a sequential and year over year basis respectively. In addition, with such record quarterly revenues, the Company expects improved gross margin and record quarterly profits in the 2 nd quarter of 2013 as well.
"We are pleased to raise our guidance. Customer demands remained stronger than expected, since the last conference call, while our operation made continuous progress in capacity expansion. With all the progress we have made so far, we are optimistic about delivering record quarterly financial performance in this quarter. We will continue capacity expansion efforts to support our customers' growing demand and to increase AFOP market share in this upcoming industry growth cycle," commented Peter Chang, President and Chief Executive Officer.
Detailed financial results for the second quarter as well as the outlook for the third quarter of 2013 will be provided, when complete second quarter end results are announced on a conference call to be held in the week of July 22, 2013.
Comments & Business Outlook
First Quarter 2013 Results
Revenues for the first quarter of 2013 totaled $12,153,000, a 15% increase from revenues of $10,535,000 reported in the first quarter of 2012, and flat from revenues of $12,159,000 reported in the previous quarter.
The Company recorded net income for the first quarter of 2013 of $1,850,000, or $0.22 per share based on 8.6 million shares outstanding, compared to $921,000, or $0.10 per share based on 8.8 million shares outstanding for the first quarter of 2012.
Peter Chang, President and Chief Executive Officer, commented, "We are very pleased with the financial performance and progress AFOP made in the quarter ended March 31, 2013. With strong customer demand, and timely recovery by our Asia operations after the Chinese New Year shutdown, we delivered higher than originally guided quarterly sales. With our focus on operational excellence, we achieved a record gross margin level, above 36%, which resulted in a 100% increase in profits, compared with a year ago quarter."
"More importantly, customers demand remains strong after March. Based on input from our customers and current expectations regarding orders, we expect revenues to increase to a record level above $14M in the second quarter of 2013 , which would represent more than 20% growth from the year ago quarter. With such a strong beginning, we are encouraged by the prospect of delivering both record revenues and record profits for the year of 2013." concluded Mr. Chang.
Comments & Business Outlook
SUNNYVALE, Calif., July 2, 2012 (GLOBE NEWSWIRE ) -- Alliance Fiber Optic Products, Inc. (Nasdaq:AFOP), an innovative supplier of fiber optic components, subsystems and integrated modules for the optical network equipment market, today raised its guidance for net sales for the quarter ended June 30, 2012.
For the 2nd quarter of 2012, the Company expects to report net sales above $11.5 million, exceeding the previously stated revenue guidance in the first quarter conference call. The Company's higher than anticipated net sales in the second quarter of 2012 primarily reflects stronger than expected bookings from key customers and continuous business progress achieved in the first half of YR2012. The Company's quarterly profits are expected to improve significantly, compared with the previous quarter, as well.
