NeoPhotonics Reports $1.9M Q1 Loss
SAN JOSE, Calif., May 12, 2011 — NeoPhotonics Corp., a supplier of photonic integrated circuit (PIC)-based modules and subsystems for communications networks, slipped into the red by $1.9 million for the first quarter of 2011, after having posted profits of $400,000 and $100,000 for the fourth and third quarters of 2011, respectively.
Looking to the positive news of the quarter, NeoPhotonics reported strong sales in fiber-to-the-home modules and a new integrated coherent receiver (ICR) product line. Its first-quarter revenue was up 27 percent year over year to $50.9 million, but was flat when compared to the fourth quarter of 2010.
Also this quarter, the company announced a new PIC-based ICR for 40 and 100 Gb/s DWDM transmission systems, which incorporates an integrated polarizing beamsplitter.
In February, NeoPhotonics completed an initial public offering of common stock, generating net proceeds of $84.1 million after expenses.
The company’s first quarter also reflected strong growth in its Access products for fiber-to-the-home (FTTH) installations.
“Generally, gross margins for our Access products are lower than some other products in our portfolio, which negatively impacted our gross margins for the quarter. However, with strong cost controls and increased efficiencies, we were able to deliver earnings above our expectations,” said Tim Jenks, chairman, president and CEO of NeoPhotonics.
For the second quarter ending June 30, 2011, NeoPhotonics expects to be affected by several factors, including the earthquake and tsunami in Japan and the general slowdown in Asia. The company currently expects revenue to be in the range of $47 million to $53 million.
For more information, visit: www.neophotonics.com
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