NeoPhotonics reported Q1 2019 revenue of $79.4 million, down 13% quarter-over-quarter and up 16% year-over-year. Gross margin was 19.8%, down from 24.8% in the prior quarter. Non-GAAP diluted net loss per share was $0.19, down from net income per share of $0.05 in the prior quarter
“NeoPhotonics delivered strong year over year growth in our seasonally low first quarter. We are focused on the highest speed coherent solutions that are well-aligned with leading industry trends, which has positioned us to benefit from growing deployments of high baud rate systems for 200G to 600G globally,” said Tim Jenks, NeoPhotonics Chairman and CEO. “These higher bandwidth systems accentuate the unique value proposition of our ultra-narrow linewidth lasers and high performance photonic integrated chips,” concluded Mr. Jenks.
