Applied Optoelectronics, Inc., a leading provider of fiber-optic network products, reported its financial results for the fourth quarter and full year ended December 31, 2023, on February 22, 2024. Despite a slight decrease in fourth-quarter revenue to $60.5 million from $61.6 million in the same period the previous year, the company saw a significant improvement in gross margin, reaching 35.7% compared to 10.1% in Q4 2022. The non-GAAP net income for the quarter was $1.6 million, or $0.04 per diluted share, marking a positive shift from a non-GAAP net loss of $5.4 million in the prior year's quarter. For the full year, revenue slightly declined to $217.6 million from $222.8 million in 2022, but gross margin and net loss showed notable improvements. The company anticipates a revenue decline in Q1 2024 due to...Show More

Applied Optoelectronics, Inc., a leading provider of fiber-optic network products, reported its financial results for the fourth quarter and full year ended December 31, 2023, on February 22, 2024. Despite a slight decrease in fourth-quarter revenue to $60.5 million from $61.6 million in the same period the previous year, the company saw a significant improvement in gross margin, reaching 35.7% compared to 10.1% in Q4 2022. The non-GAAP net income for the quarter was $1.6 million, or $0.04 per diluted share, marking a positive shift from a non-GAAP net loss of $5.4 million in the prior year's quarter. For the full year, revenue slightly declined to $217.6 million from $222.8 million in 2022, but gross margin and net loss showed notable improvements. The company anticipates a revenue decline in Q1 2024 due to the Lunar New Year and price reductions, with a substantial improvement expected in Q2. The report also included a business outlook for Q1 2024, projecting revenue between $41 million to $46 million and a non-GAAP net loss in the range of $18.9 million to $20.8 million. The company held a conference call on the same day to discuss the results and outlook.