Applied Optoelectronics Expects To Report Profit And Sales Above Expectations

By Tomi Kilgore Markets MarketWatch Pulse

Applied Optoelectronics Inc. said Thursday that second-quarter profit and sales should exceed expectations, with the provider of fiber-optic access network products citing an improvement in manufacturing costs and expansion in capacity. The company expects adjusted earnings per share of $1.31 to $1.36, above the FactSet consensus of $1.15. Revenue is expected to be about $117.3 million, above its previous guidance of $106.0 million to $112.0 million. The stock was halted for news until 9:00 a.m. ET. It was down 0.3% just before the halt. The stock has more than tripled year to date through Wednesday, while the S&P 500 has gained 9.1%.

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