NeoPhotonics: 2Q Earnings Snapshot
Posted August 4, 2020 4:20 pm.
Last Updated August 4, 2020 4:24 pm.
This article is more than 5 years old.
SAN JOSE, Calif. (AP) _ NeoPhotonics Corp. (NPTN) on Tuesday reported second-quarter net income of $5.7 million, after reporting a loss in the same period a year earlier.
The San Jose, California-based company said it had profit of 11 cents per share. Earnings, adjusted for one-time gains and costs, were 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The maker of components for communications networks posted revenue of $103.2 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $100 million.
For the current quarter ending in October, NeoPhotonics expects its per-share earnings to range from 3 cents to 13 cents.
The company said it expects revenue in the range of $97 million to $105 million for the fiscal third quarter.
NeoPhotonics shares have risen 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10, more than doubling in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NPTN at https://www.zacks.com/ap/NPTN
The Associated Press
