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

Oplink Reports Third Quarter Fiscal Year 2013 Financial Results

Stocks in this article: OPLK

FREMONT, Calif., May 2, 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 third quarter of fiscal year 2013, ended March 31, 2013.

Revenues for the quarter were $44.1 million and GAAP net income was $2.1 million, or $0.11 per diluted share. This compares to revenues of $45.1 million and a GAAP net income of $3.5 million, or $0.18 per diluted share, reported in the prior quarter, and revenues of $44.0 million and GAAP net income of $2.9 million, or $0.14 per diluted share, reported in the same period of the prior year.

Non-GAAP net income for the third quarter was $3.4 million, or $0.18 per diluted share, as compared to $4.6 million, or $0.24 per diluted share, reported in the prior quarter, and $2.5 million, or $0.13 per diluted share, reported in the same period of the prior year.

Oplink generated $7.0 million in cash from operations and closed the quarter with cash, cash equivalents and short-term and long-term investments of $176.5 million.

"We are pleased with the performance in our optics business, particularly considering the overall market climate for telecommunication," said Joe Liu, Chairman and CEO of Oplink. "We continue to work closely with customers on design-in opportunities as they develop future datacom and telecom products. The progress we are making in our Mobile Interactive business is encouraging and we are optimistic about the growth opportunity in this area over time."

Business Outlook for the Quarter Ending June 30, 2013

For the quarter ending June 30, 2013, the Company expects to report revenues between $43 million and $47 million and GAAP net income per diluted share of approximately $0.11 to $0.17. 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 $0.18 to $0.24. GAAP and non-GAAP net income per diluted share for the quarter ending June 30, 2013 include a gain of approximately $1.2 million resulting from the sale of a portion of the Company's Taiwan facilities and assume an effective tax rate of 20%.

1 of 4

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 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

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