Applied Optoelectronics: 3Q Earnings Snapshot
SUGAR LAND, Texas (AP) _ Applied Optoelectronics Inc. (AAOI) on Wednesday reported a loss of $8.8 million in its third quarter.
On a per-share basis, the Sugar Land, Texas-based company said it had a loss of 44 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 15 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $46.1 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $48.2 million.
For the current quarter ending in December, Applied Optoelectronics expects its results to range from a loss of 30 cents per share to a loss of 21 cents per share.
The company said it expects revenue in the range of $46 million to $49 million for the fiscal fourth quarter.
Applied Optoelectronics shares have declined 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.71, a drop of 42% in the last 12 months.