AFOP Raises Third Quarter, 2013 Guidance
SUNNYVALE, Calif., Sept. 17, 2013 (GLOBE NEWSWIRE) -- Alliance Fiber Optic
Products, Inc. (Nasdaq:AFOP), an innovative supplier of fiber optic
components, subsystems and integrated modules for the optical network
equipment market, today announced that it will raise its financial guidance
for the quarter ended September 30, 2013.
For the third quarter of 2013, the Company expects to report net sales above
$22 million, exceeding the previously stated revenue guidance of $19.5 to
$20.5 million provided in the second quarter, 2013 conference call. This
revenue level represents a 16% and 78% increase on a sequential and year over
year basis respectively.
"With increased demands for datacomm applications, customer orders have been
stronger than expected, since the last conference call. We are excited with
this development and the opportunity to deliver another record quarterly
financial milestones the third quarter. We will continue our capacity
expansion efforts to support our customers' growing requirements and to
increase AFOP market share in this emerging industry growth cycle," commented
by Peter Chang, President and Chief Executive Officer.
Detailed financial results for the third quarter as well as the outlook for
the fourth quarter of 2013 will be provided, when complete third quarter end
results are announced on a conference call to be held in October, 2013.
Founded in 1995, Alliance Fiber Optic Products, Inc. designs, manufactures and
markets a broad range of high performance fiber optic components and
integrated modules. AFOP's products are used by leading and emerging
communications equipment manufacturers to deliver optical networking systems
to the long-haul, enterprise, metropolitan and last mile access segments of
the communications network. AFOP offers a broad product line of passive
optical components including interconnect systems, couplers and splitters,
thin film CWDM and DWDM components and modules, optical attenuators, and
micro-optics devices. AFOP is headquartered in Sunnyvale, California, with
manufacturing and product development capabilities in the United States,
Taiwan and China. AFOP's website is located at http://www.afop.com.
Except for the historical information contained herein, the matters set forth
in this press release, including statements as to our expectations regarding
future revenue levels and profits and the time periods thereof are forward
looking statements within the meaning of the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that may cause actual
results to differ materially, including, but not limited to general economic
conditions and trends, trends in demand for bandwidth, the impact of
competitive products and pricing, timely introduction of new technologies,
timely design acceptance by our customers, the acceptance of new products and
technologies by our customers, customer demand for our products, the timing of
customer orders, loss of key customers, our ability to ramp new products into
volume production, the mix of products sold and product pricing, the costs
associated with running our operations, industry-wide shifts in supply and
demand for optical components and modules, industry overcapacity and demand
for bandwidth, the success of cost control initiatives, our ability to obtain
and maintain operational efficiencies, financial stability in foreign markets,
and other risks detailed from time to time in our SEC reports, including
AFOP's quarterly report on Form 10-Q for the quarter ended June 30, 2013.
These forward-looking statements speak only as of the date hereof. AFOP
disclaims any intention or obligation to update or revise any forward-looking
CONTACT: Anita Ho
Acting Chief Financial Officer
Alliance Fiber Optic Products, Inc.
Phone: 408-736-6900 x168
Alliance Fiber Optic Products, Inc. Logo
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