Thursday, August 6, 2015

NeoPhotonics Posts Profitable Quarter as 100G Growth Continues

NeoPhotonics reported Q2 revenue of $85.4 million, up $7.9 million, or 10.2%, from the second quarter of 2014, and up $4.0 million, or 4.9%, from the prior quarter. Gross margin was 30.6%, up from 18.8% in the second quarter of 2014, and up from 29.6% in the prior quarter. Net income was $1.8 million, up from a loss of $6.8 million in the second quarter of 2014, and up from $0.1 million in the prior quarter.

“Our goal is to be a leader in High Speed 100G and beyond product solutions and to deliver sustained profitability. With strong traction of our High Speed 100G and beyond products in transport and Metro markets as well as in rapidly growing Datacenter Interconnect system applications, 59% of our revenue was from High Speed 100G and above products. Our second quarter results continue to demonstrate our strong execution towards our profitability goals and our target model with sequential increases in revenue, gross margins, profitability, EBITDA and operating cash flow,” said Tim Jenks, NeoPhotonics Chairman and CEO. “We further bolstered our balance sheet with our equity raise of $45.6 million,” continued Mr. Jenks.

Top customers include:

  • Alcatel-Lucent - 11%
  • Ciena - 22%
  • Huawei - 40%