NeoPhotonics: 4Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ NeoPhotonics Corp. (NPTN) on Thursday reported fourth-quarter net income of $2.1 million, after reporting a loss in the same period a year earlier.
The San Jose, California-based company said it had net income of 4 cents per share. Earnings, adjusted for one-time gains and costs, were 10 cents per share.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 10 cents per share.
The maker of components for communications networks posted revenue of $103.4 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $97.3 million.
For the year, the company reported that its loss narrowed to $17.1 million, or 36 cents per share. Revenue was reported as $356.8 million.
For the current quarter ending in April, NeoPhotonics said it expects revenue in the range of $83 million to $90 million.
NeoPhotonics shares have fallen 30% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.18, a decrease of 23% in the last 12 months.