NeoPhotonics recorded record annual revenue for 2010 of $184.1 million, an increase of $29.1 million, or 19%, over $155.1 million in 2009. Gross margin for 2010 increased to 30.4% from 26.1% in 2009. The company also reported its first full year of profitability in 2010. Net income for 2010 was $3.3 million, as compared to a net loss in 2009 of $6.8 million.
“We achieved record revenue for both periods and we recorded our first full year of profitability in 2010. Moreover, 2010 marks our 8th consecutive year of year-over-year revenue growth. We believe our strong financial performance demonstrates the positive demand we are seeing for our PIC-based technologies and products with the world’s largest network equipment manufacturers,” said Tim Jenks, Chairman, President and CEO of NeoPhotonics.
NeoPhotonics said it made significant progress qualifying new PIC-based product designs in 2010 with 97 cumulative, multi-year product family design wins to its tier one customer group. This is an increase of 17 product family design wins since the end of 2009.http://www.neophotonics.com
