AFOP Raises 2nd Quarter, 2013 Guidance
May 22 2013 - 7:00AM
Alliance Fiber Optic Products, Inc. (Nasdaq:AFOP), an innovative
supplier of fiber optic components, subsystems and integrated
modules for the optical network equipment market, today announced
that it will raise its financial guidance for the quarter ended
June 30, 2013.
For the 2nd quarter of 2013, the Company expects to report net
sales above $16 million, exceeding the previously stated revenue
guidance of $14 million provided in the first quarter, 2013
conference call. This revenue level represents a 32% and 39%
increase on a sequential and year over year basis respectively. In
addition, with such record quarterly revenues, the Company expects
improved gross margin and record quarterly profits in the 2nd
quarter of 2013 as well.
"We are pleased to raise our guidance. Customer demands remained
stronger than expected, since the last conference call, while our
operation made continuous progress in capacity expansion. With all
the progress we have made so far, we are optimistic about
delivering record quarterly financial performance in this quarter.
We will continue capacity expansion efforts to support our
customers' growing demand and to increase AFOP market share in this
upcoming industry growth cycle," commented Peter Chang,
President and Chief Executive Officer.
Detailed financial results for the second quarter as well as the
outlook for the third quarter of 2013 will be provided, when
complete second quarter end results are announced on a conference
call to be held in the week of July 22, 2013.
About AFOP
Founded in 1995, Alliance Fiber Optic Products, Inc. designs,
manufactures and markets a broad range of high performance fiber
optic components and integrated modules. AFOP's products are used
by leading and emerging communications equipment manufacturers to
deliver optical networking systems to the long-haul, enterprise,
metropolitan and last mile access segments of the communications
network. AFOP offers a broad product line of passive optical
components including interconnect systems, couplers and splitters,
thin film CWDM and DWDM components and modules, optical
attenuators, and micro-optics devices. AFOP is headquartered in
Sunnyvale, California, with manufacturing and product development
capabilities in the United States, Taiwan and China. AFOP's website
is located at http://www.afop.com.
Except for the historical information contained herein, the
matters set forth in this press release, including statements as to
our expectations regarding future revenue levels and profits and
the time periods thereof are forward looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, including, but not limited to general economic
conditions and trends, trends in demand for bandwidth, the impact
of competitive products and pricing, timely introduction of new
technologies, timely design acceptance by our customers, the
acceptance of new products and technologies by our customers,
customer demand for our products, the timing of customer orders,
loss of key customers, our ability to ramp new products into volume
production, the mix of products sold and product pricing, the costs
associated with running our operations, industry-wide shifts in
supply and demand for optical components and modules, industry
overcapacity and demand for bandwidth, the success of cost control
initiatives, our ability to obtain and maintain operational
efficiencies, financial stability in foreign markets, and other
risks detailed from time to time in our SEC reports, including
AFOP's quarterly report on Form 10-Q for the quarter ended March
31, 2013. These forward-looking statements speak only as of the
date hereof. AFOP disclaims any intention or obligation to update
or revise any forward-looking statements.
CONTACT: Anita Ho
Acting Chief Financial Officer
Alliance Fiber Optic Products, Inc.
Phone: 408-736-6900 x168
Alliance Fiber Optic (NASDAQ:AFOP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Alliance Fiber Optic (NASDAQ:AFOP)
Historical Stock Chart
From Jul 2023 to Jul 2024