Alliance Fiber Optic Products Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for Third Quarter of Fiscal 2015 and Full Fiscal 2015
Jul 22 15
Alliance Fiber Optic Products Inc. reported unaudited consolidated earnings results for the second quarter ended and six months June 30, 2015. Revenues for the second quarter of 2015 were $25,045,000, a 16% increase from revenues of $21,663,000 reported in the first quarter of 2015 and a 3% increase from revenues of $24,199,000 reported in the second quarter of 2014. Net income for the quarter ended June 30, 2015 was $5,040,000, or $0.28 per share, compared to net income of $3,558,000, or $0.20 per share, for the first quarter of 2015, and net income of $3,782,000, or $0.20 per share, for the second quarter of 2014. Non-GAAP net income for the quarter ended June 30, 2015 was $6,705,000, or $0.38 per share, compared to non-GAAP net income of $5,222,000, or $0.29 per share, for the first quarter of 2015 and non-GAAP net income of $6,446,000, or $0.35 per share, for the second quarter of 2014. Income before provision for income taxes was $6,951,000 against $5,614,000 a year ago. CapEx in the second quarter is about $2 million.
For the six months, the company reported revenue of $46,708,000, income from operations of $12,177,000, income before provision for income taxes of $12,565,000, net income of $8,598,000 or $0.47 per diluted share against revenue of $49,081,000, income from operations of $13,037,000, income before provision for income taxes of $12,565,000, net income of $5,797,000 or $0.46 per diluted share a year ago. Non-GAAP net income was $11,927,000 or $0.67 per diluted share against $12,837,000 or $0.69 per diluted share a year ago. Non-GAAP EBITDA was $14,777,000 against $15,648,000 a year ago.
For the third quarter, the company expects revenues to be in the range of $24 million to $26 million.
For the full year of 2015, the company expects to deliver both record revenues and profits. The company expects tax rate to be between 16% and 20%.
Alliance Fiber Optic Products Inc. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Revenue Guidance for the Second Quarter of 2015 and Provides Earnings Guidance for the Full Year of 2015
Apr 22 15
Alliance Fiber Optic Products Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of $21,663,000 against $24,882,000 a year ago, due to again to the effort by its exceptional team, reading customers requirements during the quarter with the Chinese New Year shutdowns. Income from operations was $5,418,000 against $6,470,000 a year ago. Income before benefit (provision) for income taxes was $5,614,000 against $6,617,000 a year ago. Net income was $2,926,000 against $5,015,000 a year ago. Net income per diluted share was $0.16 against $0.26 a year ago. Adjusted (non-GAAP) income from operations was $5,914,000 against $7,187,000 a year ago. Adjusted net income was $5,222,000 against $6,391,000 a year ago. Adjusted net income per diluted share was $0.29 against $0.34 a year ago. Non-GAAP EBITDA was $6,576,000 against $7,841,000 a year ago, due to the support of its customers and the effort by its Asia operations, it able to deliver quarterly revenue within previous guidance, during a normally slower season which includes the Chinese New Year holiday. CapEx was around $1 million.
Based on input from its customers and current orders, the company expects revenues in the coming quarter to be in the range of $22.5 million to $24.5 million. Gross margin, expect to remain about 41% and could stay at similar level in second quarter with a higher level of sales and the favorable product mix in the coming year. CapEx will increase because of the completion of the facility expansion in China.
With this strong beginning, it is encouraged by the prospect of delivering both record revenues and record profits for the year of 2015. All the progress will help AFOP deliver another record year in both sales and operating profit.