2 November 2012

NeoPhotonics reports Q3 revenue of a record $66.2m, up 54% year-on-year  

For third-quarter 2012, NeoPhotonics Corp of San Jose, CA, a vertically integrated designer and manufacturer of both indium phosphide (InP) and silica-on-silicon photonic integrated circuit (PIC)-based modules and subsystems for bandwidth-intensive, high-speed communications networks, has reported revenue of $66.2m, up 5% on $63m last quarter and up 54% on $42.8m a year ago.

“We experienced growth from several Western customers, notably in coherent and other high-speed products, where we have a breadth of design wins that propelled us to another record quarter,” says chairman, president & CEO Tim Jenks. 

Non-GAAP gross margin has continued to recover, from 26.5% last quarter to 32.9%, up on 27.8% a year ago.  Income was $2.7m ($0.08 per diluted share), compared with a loss of $1.7m ($0.06 per diluted share) last quarter and $3.2m a year ago ($0.13 per diluted share). NeoPhotonics has returned to profitability ahead of its initial projection schedule, made at the time it acquired InP PIC-based tunable laser array maker Santur Corp of Fremont, CA, USA in October 2011 (when it said that it expected Santur’s operations to contribute to earnings “in five to seven quarters”). 

During the quarter, total cash, cash equivalents and short-term investments fell slightly, from $107.1m to $105.9m, due primarily to scheduled debt repayment and capital expenditures that were substantially offset by strong collections in the quarter.

For fourth-quarter 2012, NeoPhotonics expects revenue to fall to $58-62m (primarily reflecting seasonality in the business),  gross margin to fall to 29-31% (primarily depending on product mix and the impact of pricing negotiations that take place during the quarter), and earnings of break-even to plus or minus $0.05 per diluted share.

For full-year 2013, NeoPhotonics expects revenue growth of 8-10% over 2012, and profitability on an annual basis.

See related items:

NeoPhotonics reports higher-than-expected record revenue in Q2

NeoPhotonics’ revenue grows 8% year-on-year in Q1

NeoPhotonics reports record revenue of $57.2m in Q4

NeoPhotonics grows margin in Q3 despite 16% revenue drop to $44m

Tags: NeoPhotonics PICs

Visit: www.neophotonics.com