News

23 April 2010

 

Oplink grows revenue but profit dips

For its fiscal third-quarter 2010 (to end-March), optical networking component, module and subsystem maker Oplink Communications Inc of Fremont, CA, USA has reported revenue of $33.6m, up 3% on $32.7m the prior quarter and up 9% on $30.8m a year ago.

Though down from $3.1m ($0.14 per diluted share) the prior quarter, net income of $2.6m ($0.12 per diluted share) was higher than the expected $0.05–0.11 and an improvement on a net loss of $114,000 a year ago.

Oplink closed the quarter with cash, cash equivalents and investments of $184.8m (up from $168.7m at the end of June 2009).

“Despite a shorter quarter, we reported solid revenue and earnings for the period,” says CEO Joe Liu. “We continue to invest in expanding capacity and improving lead times to meet a stronger demand environment, but production ramp-up remains challenging due to labor and materials shortages,” he notes. “We expect improved capabilities in the coming quarters.”

For its fiscal fourth-quarter 2010 (to end-June), Oplink expects revenue to rise to $35–38m, but net income per diluted share to fall to $0.05–0.11 ($0.16–0.22 non-GAAP).

See related items:

Oplink increases margin and profit despite revenue dip

Oplink’s recovery continues from March-quarter low

Oplink goes into profit as revenue rebounds

Oplink’s revenues fall 18%, but cost cutting maintains cash generation

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