A reconciliation of GAAP financial measures to Non-GAAP financial measures is attached to this press release. See “Use of Non-GAAP Financial Information” below for a description of these Non-GAAP financial measures.
Outlook for the Quarter Ending December 31, 2012 and Full Year 2013
The company’s current expectations for the fourth quarter 2012 are:
- Revenue in the range of $58 million to $62 million, primarily reflecting seasonality in the business
- Non-GAAP gross margin in the range of 29% to 31%, primarily depending on product mix and the impact of pricing negotiations that take place in the quarter
- Diluted loss per share from continuing operations in the range of $0.06 to $0.13, and on a Non-GAAP basis in the range of break-even to plus or minus $0.05 per share.
The Non-GAAP outlook excludes the expected amortization of intangibles and other assets of approximately $1.7 million and the anticipated impact of stock-based compensation of approximately $1.4 million, of which $1.1 million is estimated to relate to cost of goods sold.The company’s current expectations for the full year of 2013 are for revenue growth in the range of 8% to 10% over 2012, and with that level of growth, profitability on an annual basis. Conference Call The Company will discuss these financial results in a conference call at 6:00 p.m. EDT today. The public is invited to listen to a live webcast of the conference call on the Investor Relations section of the company website at http://ir.neophotonics.com. The conference call can be accessed by dialing 888-438-5525 if you are calling from within the United States, or +1-719-325-2144 if you are calling from outside the United States. The pass code for the call is 2241796. A replay of the webcast will be available on the Investor Relations section on the company’s website approximately two hours after the conclusion of the call. The audio replay will remain available until Tuesday, Nov 6, 2012, and can be accessed by dialing 888-203-1112 if you are calling from within the United States, or +1-719-457-0820 if you are calling from outside the United States, and entering the replay pass code 2241796. About NeoPhotonics NeoPhotonics is a leading designer and manufacturer of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. The company’s products enable cost-effective, high-speed data transmission and efficient allocation of bandwidth over communications networks. NeoPhotonics maintains headquarters in San Jose, California and ISO 9001:2000 certified engineering and manufacturing facilities in Silicon Valley (USA) and Shenzhen, China. NeoPhotonics has been included in the Russell 3000® Index since June 2011. For additional information, visit www.neophotonics.com. © 2012 NeoPhotonics Corporation. All rights reserved. NeoPhotonics and the red dot logo are trademarks of NeoPhotonics Corporation. All other marks are the property of their respective owners.