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What: Shares of NeoPhotonics jumped today, closing out the day with 8% gains, after the company reported fourth-quarter earnings.
So what: Revenue in the fourth quarter came in at a record $89.1 million, a 13% increase from a year ago. Adjusted net income was $6.9 million, or $0.16 per share, which was down year over year. Both top- and bottom-line results easily beat the consensus estimates of $84.9 million in sales and $0.10 per share in non-GAAP profit. Gross margin margin was 28.2%.
Now what: CEO Tim Jenks said 2015 was the best year in NeoPhotonics' history. He added that the market for 100G-and-beyond optical markets continues to grow at a rapid pace, and new products helped drive growth during the quarter. This comes shortly after peer Oclaro reportedly similarly upbeat results a month ago. First-quarter guidance calls for revenue of $92 million to $98 million, with non-GAAP earnings per share of $0.10 to $0.18. Full-year 2016 revenue growth should be approximately 15%.
The article Why NeoPhotonics Corp. Shares Jumped Today originally appeared on Fool.com.
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