Applied Optoelectronics Inc (NASDAQ: AAOI) is having an incredibly strong start to the trading session this morning after releasing preliminary, unaudited results for the second quarter. Of course, the results were positive, leading to excitement among investors and gains in the value of the stock. At the moment (10:11), AAOI is trading at $76.55 per share after a gain of $3.91 per share (5.38%) thus far today.
AAOI Releases Preliminary Q2 Results
As mentioned above, Applied Optoelectronics is having a strong start to the trading session this morning thanks to the release of preliminary unaudited financial results for the second quarter. Here are the results the company offered:
- Revenue of approximately $117.3 million, above the prior outlook of $106.0 million to $112.0 million.
- GAAP and non-GAAP gross margin in the range of 45.0% to 45.4%, above the prior non-GAAP outlook of 41.0% to 42.5%.
- GAAP net income in the range from $28.0 million to $29.0 million and non-GAAP net income after tax in the range from $26.6 million to $27.6 million, above the prior non-GAAP outlook of $22.2 million to $24.3 million.
- GAAP fully diluted earnings per share in the range of $1.37 to $1.42 and non-GAAP fully diluted earnings per share in the range of $1.31 to $1.36, using a weighted-average fully diluted share count of approximately 20.4 million shares. This is above the prior non-GAAP outlook of $1.09 to $1.19 per share, using approximately 20.4 million shares.
In a comment, Dr. Thompson Lin, Founder, President and CEO at AAOI, had the following to offer:
“I’m pleased to announce that we expect to deliver another record quarter with our top and bottom-line results expected to exceed our guidance,” said Dr. Thompson Lin, Applied Optoelectronics, Inc. founder, president and CEO. “Again this quarter, our results were driven by improvement in our manufacturing costs, capacity expansion and solid execution by our production team. We are pleased with our performance and look forward to sharing the additional details of our second quarter results on our conference call in August.”
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to watch AAOI incredibly closely. In particular, we’re interested in seeing the Q2 report to see if the numbers do come in line with these great preliminary results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!