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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

AFOP Reports Record Quarterly Sales And Profits In Q1 2014. Guidance For Year-Over-Year Increases Of 31% In Q2 2014

Stocks in this article: AFOP

SUNNYVALE, Calif., April 24, 2014 (GLOBE NEWSWIRE) -- Alliance Fiber Optic Products, Inc. (Nasdaq:AFOP), an innovative supplier of fiber optic components, subsystems and integrated modules for the fiber optic communication market, today reported its financial results for the first quarter ended March 31, 2014.

Revenues for the first quarter of 2014 were $24,882,000, a 105% increase from revenues of $12,153,000 reported in the first quarter of 2013, and a 14% increase from revenues of $21,804,000 reported in the fourth quarter of 2013.

Net income for the quarter ended March 31, 2014 rose to $5,015,000, or $0.27 per share, compared to net income of $1,850,000, or $0.11 per share, for the first quarter of 2013, and net income of $7,055,000, or $0.38 per share, for the fourth quarter of 2013. Included in net income for the fourth quarter of 2013 was a one-time tax benefit of approximately $2.3 million. Excluding this tax benefit, net income was $4,720,000, or $0.26 per share, in the fourth quarter of 2013.

Gross margin for the quarter ended March 31, 2014 increased to 40%, compared to 36% in the year ago quarter and 39% in the fourth quarter of 2013. Operating margin for the quarter ended March 31, 2014 increased to 26%, compared to 14.5% in the year ago quarter and 24% in the fourth quarter of 2013.

Non-GAAP net income for the quarter ended March 31, 2014 was $6,391,000, or $0.35 per share, compared to non-GAAP net income of $2,130,000, or $0.12 per share, for the first quarter of 2013, and non-GAAP net income of $5,383,000, or $0.29 per share, for the fourth quarter of 2013.

Non-GAAP gross margin for the quarter ended March 31, 2014 was 41%, compared to 37% in the year ago quarter and 40% in the fourth quarter of 2013. Non-GAAP operating margin for the quarter ended March 31, 2014 was 29%, compared to 17% in the year ago quarter and 27% in the fourth quarter of 2013.

1 of 2

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 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

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