一个高成长光纤股，销售 27% YOY增长，但股价已经priced in 了， ER down 19%。
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SUNNYVALE, Calif., July 28, 2014 (GLOBE NEWSWIRE) -- Alliance Fiber Optic Products, Inc. (AFOP), an innovative supplier of fiber optic components, subsystems and integrated modules for the fiber optic communication market, today reported its financial results for the second quarter ended June 30, 2014.
Revenues for the second quarter of 2014 were $24,199,000, a 27% increase from revenues of $19,039,000 reported in the second quarter of 2013, and a 3% decrease from revenues of $24,882,000 reported in the first quarter of 2014.
Net income for the quarter ended June 30, 2014, was $3,782,000, or $0.20 per share, compared to net income of $4,282,000, or $0.24 per share, for the second quarter of 2013, and net income of $5,015,000, or $0.27 per share, for the first quarter of 2014. Included in net income for the second quarter of 2014 and the first quarter of 2014 are income tax provision adjustments of $2,134,000 and $659,000 respectively, as a result of deferred income tax expenses based on utilization of net operating loss. Excluding these tax provision adjustments, net income in the second quarter of 2014 increased to $5,916,000, or $0.32 per share, compared to net income of $4,282,000, or $0.24 per share, for the second quarter of 2013, and net income of $5,674,000 or $0.31 per share for the first quarter of 2014.
Gross margin for the quarter ended June 30, 2014 increased to 40.1%, compared to 38.2% in the year ago quarter and 39.8% in the first quarter of 2014. Operating margin for the quarter ended June 30, 2014 increased to 27.1%, compared to 23.4% in the year ago quarter and 26.0% in the first quarter of 2014.
Non-GAAP net income for the quarter ended June 30, 2014 increased to $6,446,000, or $0.35 per share, compared to non-GAAP net income of $4,693,000, or $0.27 per share, for the second quarter of 2013, and non-GAAP net income of $6,391,000, or $0.35 per share, for the first quarter of 2014.
Non-GAAP gross margin for the quarter ended June 30, 2014 was 40.5%, compared to 38.9% in the year ago quarter and 40.6% in the first quarter of 2014. Non-GAAP operating margin for the quarter ended June 30, 2014 was 29.3%, compared to 25.5% in the year ago quarter and 28.9% in the first quarter of 2014.
Peter Chang, President and Chief Executive Officer, commented, "Although our second quarter revenues fell short of our previous guidance, due to lower than expected demand from one key customer, sales in the second quarter increased 27% from the year ago quarter. We are encouraged by increased sales to our telecom customers and European customers during the quarter. In addition, our income from operations in the first six months of 2014 doubled from the first six months of 2013."
"Regarding forward guidance, based on input from our customers and current orders, we expect revenues in the third quarter to be at a similar level to the secod quarter. Despite relatively flat revenues in these three quarters, we continue being encouraged by the prospect of emerging business growth in the coming years, because of increasing data bandwidth demands driving the next growth cycle in the fiber optics industry. In the meantime, we expect to deliver record annual sales and profits in this fiscal year," concluded Mr. Chang.作者: aimei 时间: 2014-7-29 12:21
