NeoPhotonics: 3Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ NeoPhotonics Corp. (NPTN) on Thursday reported third-quarter net income of $2.3 million, after reporting a loss in the same period a year earlier.
The San Jose, California-based company said it had net income of 5 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 11 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The maker of components for communications networks posted revenue of $92.4 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $89.8 million.
For the current quarter ending in December, NeoPhotonics expects its per-share earnings to range from 4 cents to 14 cents.
The company said it expects revenue in the range of $94 million to $100 million for the fiscal fourth quarter.
NeoPhotonics shares have climbed almost 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.59, a drop of 18% in the last 12 months.