Thursday, October 31, 2019

NeoPhotonics posts Q3 sales of $92.4M, up 13%

NeoPhotonics reported Q3 2019 revenue of $92.4 million, up 13% quarter-over-quarter and up 13% year-over-year. Gross margin was 28.4%, up from 19.2% in the prior quarter. Diluted net earnings per share was $0.05, up from a net loss of $0.16 per share in the prior quarter.

“Solid execution, strong customer demand, and cost reduction combined for a profitable quarter for NeoPhotonics,” said Tim Jenks, Chairman and CEO of NeoPhotonics. “Despite the trade tensions, we believe the macro trends of the industry favor our core capabilities of delivering the highest performance products for the most demanding applications,” concluded Mr. Jenks.

Some highlights:

  • Huawei demand for non-Export Administration Requirements (EAR) products holding at 37% of revenue, but down from 46% in 2018.
  • NeoPhotonics said it has applied for certain export licenses for shipping additional products to Huawei, but, to date, no definitive response has been received.