SUGAR LAND, Texas (AP) 鈥� SUGAR LAND, Texas (AP) 鈥� Applied Optoelectronics Inc. (AAOI) on Thursday reported a loss of $22.8 million in its second quarter.
On a per-share basis, the Sugar Land, Texas-based company said it had a loss of 28 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 6 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $191.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $191.1 million.
For the current quarter ending in September, Applied Optoelectronics expects its per-share earnings to range from 11 cents to 26 cents.
The company said it expects revenue in the range of $255 million to $290 million for the fiscal third quarter.
Applied Optoelectronics shares have more than tripled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $124.22, rising fivefold in the last 12 months.
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