NeoPhotonics reported Q1 revenue of $99.1 million, up $17.8 million, or 21.8%, from the first quarter of 2015, and up $10.0 million, or 11.2%, from the prior quarter. GAAP Gross margin was 31.4%, up from 29.6% in the first quarter of 2015, and up from 28.2% in the prior quarter. GAAP net income was $2.3 million, up from $0.1 million in the first quarter of 2015, and up from $0.4 million in the prior quarter.
“In our first quarter NeoPhotonics delivered excellent results, as we achieved record revenue, record revenue growth and record EBITDA. Our revenue for 100G products was up 24% sequentially, accounting for 65% of our first quarter revenue,” said Tim Jenks, CEO of NeoPhotonics. “Maintaining our leadership in 100G and beyond solutions we introduced a number of exciting new products and technologies during the quarter. We see the overall environment for 100G products globally as very robust and given the acceleration in our organic demand, we are bringing additional capacity on line over the next quarters. As a result, we anticipate revenue growth to be in the range of 20-25% for the year,” concluded Mr. Jenks.
http://www.neophotonics.com
