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Applied Optoelectronics | 8-K: Applied Optoelectronics Reports Second Quarter 2024 Results

SEC announcement ·  Aug 7 04:10
Summary by Futu AI
Applied Optoelectronics, Inc., a leading provider of fiber-optic network products, reported its financial results for the second quarter ended June 30, 2024, on August 6, 2024. The company announced a GAAP revenue of $43.3 million, a slight increase from $41.6 million in the same quarter of the previous year. The GAAP gross margin also improved to 22.1% from 19.0% in the second quarter of 2023. Despite these gains, the company experienced a GAAP net loss of $26.1 million, or $0.66 per basic share, which was larger than the net loss of $16.9 million, or $0.57 per basic share, in the previous year's quarter. The non-GAAP net loss was reported at $10.9 million, or $0.28 per basic share. Dr. Thompson Lin, the company's CEO, expressed optimism for the second half of the...Show More
Applied Optoelectronics, Inc., a leading provider of fiber-optic network products, reported its financial results for the second quarter ended June 30, 2024, on August 6, 2024. The company announced a GAAP revenue of $43.3 million, a slight increase from $41.6 million in the same quarter of the previous year. The GAAP gross margin also improved to 22.1% from 19.0% in the second quarter of 2023. Despite these gains, the company experienced a GAAP net loss of $26.1 million, or $0.66 per basic share, which was larger than the net loss of $16.9 million, or $0.57 per basic share, in the previous year's quarter. The non-GAAP net loss was reported at $10.9 million, or $0.28 per basic share. Dr. Thompson Lin, the company's CEO, expressed optimism for the second half of the year, highlighting new orders for 400G products from a large hyperscale customer and improvements in the datacenter business. However, slower CATV sales were noted due to customers preparing for the transition to DOCSIS 4.0. For the third quarter of 2024, Applied Optoelectronics expects revenue between $60 million to $66 million and a non-GAAP net loss in the range of $5.9 million to $8.6 million. The company held a conference call on the same day to discuss these results and its outlook.

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