SUGAR LAND, Texas (AP) 鈥� SUGAR LAND, Texas (AP) 鈥� Applied Optoelectronics Inc. (AAOI) on Thursday reported a loss of $14.3 million in its first quarter.
On a per-share basis, the Sugar Land, Texas-based company said it had a loss of 19 cents. Losses, adjusted for stock option expense and pretax expenses, came to 7 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $151.1 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $156.5 million.
For the current quarter ending in June, Applied Optoelectronics expects its results to range from a loss of 3 cents per share to earnings of 3 cents per share.
The company said it expects revenue in the range of $180 million to $198 million for the fiscal second quarter.
Applied Optoelectronics shares have more than quadrupled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $153.93, rising elevenfold in the last 12 months.
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