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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%.

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