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Oplink Reports Fourth Quarter Fiscal Year 2013 Financial Results

Stocks in this article: OPLK

FREMONT, Calif., Aug. 8, 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 fourth quarter of fiscal year 2013, ended June 30, 2013.

Revenue for the quarter was $49.3 million, an increase of 12% over prior quarter revenue of $44.1 million and fourth quarter fiscal 2012 revenue of $44.2 million. GAAP net income was $4.5 million, or $0.23 per diluted share, up from $2.1 million, or $0.11 per diluted share, in the prior quarter and a net loss of $5.2 million, or $(0.27) per diluted share, reported for the fourth quarter of fiscal 2012.

Non-GAAP net income for the fourth quarter was $4.7 million, or $0.24 per diluted share, compared to $3.4 million, or $0.18 per diluted share, reported in the prior quarter, and $3.8 million, or $0.19 per diluted share, reported for the fourth quarter of fiscal 2012. A reconciliation of the non-GAAP financial measures to their GAAP equivalents is included in the financial tables accompanying this press release.

For fiscal year 2013, revenue was $183.4 million, compared to $174.9 million for fiscal 2012. GAAP net income for fiscal 2013 was $13.4 million, or $0.69 per diluted share, compared to a GAAP net loss of $2.6 million, or $(0.13) per share, for fiscal 2012. Non-GAAP net income for fiscal 2013 was $17.6 million, or $0.91 per diluted share, compared to non-GAAP net income of $11.4 million, or $0.57 per diluted share, for fiscal 2012.

"The fourth quarter closed a solid year of financial performance for Oplink," said Joe Liu, Chairman and CEO of Oplink. "As we enter fiscal 2014, we are seeing some signs of increased demand, and we are optimistic that these trends will continue. We see growth opportunities for our products in both the telecom and datacom markets and we will continue to work closely with our customers to bring cost-effective, next generation optical solutions to market to meet the increasing demand for bandwidth."

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