This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

NeoPhotonics Reports First Quarter 2012 Financial Results

NeoPhotonics Corporation (NYSE: NPTN), a leading designer and manufacturer of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high speed communications networks, today announced financial results for its first quarter ended March 31, 2012.

“We are pleased with our results for the first quarter of 2012, which exceeded our projected ranges for revenue, gross margin and earnings per share,” said Tim Jenks, Chairman, President and CEO of NeoPhotonics. “We experienced continued strong demand in our speed and agility product categories, particularly for coherent 40G and 100G products, as deployments of faster networks continue to proliferate globally,” continued Mr. Jenks.

“We are also pleased with the demand for products we acquired from Santur Corporation, particularly indium-phosphide-based PIC products such as tunable lasers. Revenue and gross profit from those products continued to grow from the prior quarter as new customer engagements since the acquisition have started to generate revenue and existing customer engagements have continued to expand,” concluded Mr. Jenks.

Financial Highlights for the First Quarter of 2012

For the first quarter of 2012, NeoPhotonics reported record first quarter revenue of $54.2 million, a decrease of $3.0 million, or 5% from the fourth quarter of 2011, and an increase of $4.2 million, or 8%, from the first quarter of 2011. Gross margin for the first quarter of 2012 was 21.0%, as compared to 21.5% in the fourth quarter of 2011 and 24.3% in the first quarter of 2011. Non-GAAP gross margin for the first quarter of 2012 was 23.9%, up from 23.5% for the fourth quarter of 2011 and compares to 25.8% for the first quarter of 2011.

Loss from continuing operations for the first quarter of 2012 was $11.8 million, an improvement compared to a loss of $22.8 million in the fourth quarter of 2011 and compares to a loss of $2.1 million in the first quarter of 2011. Non-GAAP loss from continuing operations for the first quarter of 2012 was $5.4 million, a 15% improvement compared to a loss of $6.4 million in the fourth quarter of 2011 and compares to break-even in the first quarter of 2011.

Stock quotes in this article: NPTN 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,501.65 -12.72 -0.08%
S&P 500 1,875.39 -4.16 -0.22%
NASDAQ 4,126.9670 -34.4910 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs