NeoPhotonics reported Q2 revenue of $73.2 million, up $1.5 million, or 2%, from the prior quarter, but down from $99 million for the same period last year. Gross margin was 22.9%, down from 25.8% in the prior quarter
Non-GAAP Gross margin was 23.9%, down from 26.3% in the prior quarter. The was a net loss of $9.3 million, an improvement from a net loss of $11.5 million in the prior quarter.
“We are pleased to report revenue of $73.2 million at the upper end of our previously-announced outlook range and representing sequential growth from the first quarter, including modest sequential growth in China despite an inventory overhang,” said Tim Jenks, Chairman and CEO of NeoPhotonics. “While the near term outlook in China isn’t certain, we see positive indicators there for the longer-term and we see strong current demand in North America. We anticipate robust growth in the medium and long term driven by metro, data center interconnect, a normalized China market and the emergence of 400G and above,” concluded Mr. Jenks.
