Applied Optoelectronics Inc (NASDAQ: AAOI) is having an overwhelmingly strong day in the market today, and for good reason. The company released preliminary Q1 results that beat expectations. As a result, investors went into a frenzy, pushing the stock upward and prompting our partners at Trade Ideas to alert us of the movement. At the moment (9:05), AAOI is trading at $50.21 per share after a gain of $9.39 per share or 23.00% thus far today.
AAOI Releases Preliminary Q1 Results
As mentioned above, Applied Optoelectronics is having an incredibly strong time in the pre-market hours after releasing strong preliminary Q1 results. The unaudited results for the first quarter, which ended on March 31, 2017, are as follows...
- Revenue – Approximately 96.2 million.
- GAAP and non-GAAP Gross Margin – Between 42.5% and 42.9%.
- GAAP Net Income – Between $18 million and $18.4 million.
- GAAP Fully Diluted EPS – Between $0.91 and $0.94
In a statement, Dr. Thompson Lin, Founder, President, and CEO at AAOI, had the following to offer...
“We delivered another strong quarter with our top and bottom-line results expected to exceed our guidance... Our results were driven by continued robust demand for our market-leading datacenter products and solid execution. We are pleased with our momentum and look forward to sharing the additional details of our first quarter performance on our conference call in May.”
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AAOI. In particular, we're interested in learning more about the company's growth on the conference call next month. Nonetheless, we'll continue to watch the news closely and bring it to you as it breaks!
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