This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

NeoPhotonics Reports Third Quarter 2012 Financial Results Including Record Quarterly Revenue

Stocks in this article: NPTN

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 third quarter ended September 30, 2012.

“We are very pleased with our performance in the third quarter delivering 54% year-over-year revenue growth, and returning to profitability ahead of our initial projection schedule made at the time of the Santur acquisition,” said Tim Jenks, Chairman, President and CEO of NeoPhotonics. “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.”

Highlights for the Third Quarter of 2012

  • Revenue was $66.2 million, up $3.1 million, or 5%, from the prior quarter & up $23.3 million, or 54%, from the third quarter 2011
  • Gross margin was 31.2%, up from 24.8% in the prior quarter & 28.1% in the third quarter 2011
  • Non-GAAP gross margin was 32.9%, up from 26.5% in the prior quarter & 27.8% in the third quarter 2011
  • Income from continuing operations was $0.7 million, up $4.4 million from the prior quarter’s loss of $3.7 million and up from a loss of $4.2 million in the third quarter 2011
  • Non-GAAP income from continuing operations was $2.7 million, up $4.4 million from the prior quarter’s loss of $1.7 million and up from a loss of $3.2 million in the third quarter 2011
  • Diluted income per share from continuing operations was $0.02, up from a loss of $0.13 in the prior quarter & a loss of $0.17 in the third quarter 2011
  • Non-GAAP diluted income per share from continuing operations was $0.08, up from a loss of $0.06 in the prior quarter & a loss of $0.13 in the third quarter 2011
  • Adjusted EBITDA was $6.4 million, up from $1.8 million in the prior quarter & an adjusted EBITDA loss of $0.5 million in the third quarter 2011

Total cash, cash equivalents and short-term investments was $105.9 million at the end of the third quarter 2012, down from $107.1 million in the prior quarter. The slight decrease in cash was primarily due to scheduled debt repayment and capital expenditures that were substantially offset by strong collections in the quarter.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

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