Acacia Communications Reports Third Quarter 2016 Results

MAYNARD, Mass., Nov. 10, 2016 (GLOBE NEWSWIRE) -- Acacia Communications, Inc. (NASDAQ:ACIA), a leading provider of high-speed coherent optical interconnect products, today reported financial results for its third quarter ended September 30, 2016.

"Our third quarter results exceeded our expectations driven by strong global demand for our products across metro and inter-data center networks," said Raj Shanmugaraj, President and CEO of Acacia Communications. "To satisfy this continued demand, we further scaled our manufacturing capacity during the quarter. As was the case in the second quarter, we continued to diversify our revenue base, with two of our newer top tier customers ranking among the top five contributors to our revenue in the third quarter. Additionally, we recently announced sampling of our coherent CFP2-DCO module, leveraging our sixth DSP ASIC developed in 16nm CMOS, which we believe demonstrates our continued technology leadership position."

"We are pleased that the continued market success of our highly-integrated product portfolio, combined with our ability to increase production capacity, led to enhanced profitability during the third quarter," said John Gavin, CFO of Acacia Communications. "We are also pleased to have completed our follow-on offering last month, which strengthened our balance sheet and provides us with financial flexibility to pursue our growth objectives and expand our product offerings."

Results for the Third Quarter of 2016
  • Revenue of $135.3 million, increased 107% year-over-year
  • GAAP gross margin of 46.8%; non-GAAP gross margin of 47.2%
  • GAAP income from operations of $36.8 million; non-GAAP income from operations of $43.5 million
  • GAAP net income of $34.9 million; non-GAAP net income of $40.9 million
  • EBITDA of $39.6 million; adjusted EBITDA of $46.2 million
  • GAAP diluted EPS of $0.86; non-GAAP diluted EPS of $1.01

Outlook for the Fourth Quarter of 2016

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially, as a result of, among other things, the important factors discussed at the end of this release. Acacia Communications disclaims any obligation to update these forward-looking statements.

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