NeoPhotonics Cuts Losses with Strong Fourth Quarter
SAN JOSE, Calif. — Network components firm NeoPhotonics Corp. reported a net loss of $19.7 million, an improvement from a net loss of $34.3 million in 2013.
Revenue in 2014 was $306.2 million, an increase of $23.9 million, or 8.5 percent, from $282.2 million in 2013.
CEO Tim Jenks said the company had record profits in the fourth quarter thanks to its focus on cost control, product portfolio optimization and sales of its 100G products.
Fourth-quarter revenue was $79.0 million, up $4.6 million, or 6.2 percent, from the fourth quarter of 2013, and a decrease of $2.6 million, or 3.2 percent, from the prior quarter.
Net income was $1.6 million in the fourth quarter of 2014, up from a loss of $4.5 million in the fourth quarter of 2013, and up from a loss of $1.9 million in the prior quarter.
The company expects revenue in the range of $75 million to $81 million in the first quarter of 2015.
NeoPhotonics develops hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks.