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TheStreet Open House

Oplink Reports Second Quarter Fiscal Year 2013 Financial Results

Stocks in this article: OPLK

FREMONT, Calif., Jan. 31, 2013 (GLOBE NEWSWIRE) -- Oplink Communications, Inc. (Nasdaq:OPLK), a leading provider of design, integration and optical manufacturing solutions (OMS) for optical networking components, modules and subsystems, today reported its financial results for its second quarter of fiscal year 2013, ended December 30, 2012.

Revenues for the quarter were $45.1 million and GAAP net income was $3.5 million, or $0.18 per diluted share. This compares to revenues of $44.9 million and a GAAP net income of $3.4 million, or $0.17 per diluted share, reported in the prior quarter, and revenues of $43.3 million and GAAP net loss of $1.5 million, or $(0.08) per share, reported in the same period of the prior year.

Non-GAAP net income for the second quarter was $4.6 million, or $0.24 per diluted share, as compared to $5.0 million, or $0.26 per diluted share, reported in the prior quarter, and $2.0 million, or $0.10 per diluted share, reported in the same period of the prior year.

Oplink generated $2.4 million in cash from operations, used $5.7 million for stock repurchases, and $6.9 million for capital expenditures. The Company closed the quarter with cash, cash equivalents and short-term and long-term investments of $166.7 million.

"We are pleased with our solid results in the quarter, with steady revenues in our optics business," commented Joe Liu, Chairman and CEO of Oplink. "We continued to work closely with our customers on optical design-in opportunities while investing in key areas for future growth. Also in the quarter, we announced the commercial availability of our first Smartphone-centric remote interactive plug-n-play alarm and surveillance system, and are encouraged by market feedback from prospective channels and partners. We are optimistic about the business opportunities ahead."

Business Outlook for the Quarter Ending March 31, 2013

For the quarter ending March 31, 2013, the Company expects to report revenues between $42 million and $45 million and GAAP net income per diluted share of approximately $0.09 to $0.15. On a non-GAAP basis, excluding stock compensation, amortization of intangible assets and any other non-cash or non-recurring charges, the Company expects earnings per diluted share of approximately $0.15 to $0.21. GAAP and non-GAAP net income per diluted share for the quarter ending March 31, 2013 assume an effective tax rate of 20%.

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