Financial Report Card and Outlook - Report on Applied Optoelectronics

Jul 20, 2015, 09:10 ET from www.aciassociation.com

NEW YORK, July 20, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Applied Optoelectronics, Inc. (NASDAQ: AAOI). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=AAOI

Highlights from our AAOI Report include:

  • Top-line Growth - On May 7, 2015, Applied Optoelectronics, Inc. released results for the first quarter of 2015. The Company generated total revenue of $30.2 million, an increase of 22% from $24.9 million in Q1 2014. Datacentre segment contributed c. 54% to the total revenue, amounting to $16.3 million. Meanwhile, CATV and FTTH segments contributed $12.0 million and $0.1 million, respectively, to the total revenue.
  • Operating Performance - The Company's adjusted EBITDA for the period stood at $2.3 million, slightly higher than $2.1 million in same period last year. The Company's research and development expenses amounted to $4.8 million, compared to $3.5 million in the same period last year. Meanwhile, general and administrative expenses also grew from $3.6 million in prior year quarter to $5.0 million in Q1 2015.
  • Bottom-line Performance - GAAP net loss for the period stood at $0.7 million, compared to net income of $0.1 million in Q1 2014. Consequently, the Company recorded a loss of $0.05 per diluted share in Q1 2015 compared to diluted EPS of $0.01 in Q1 2014. In addition, non-GAAP net income was recorded at $0.3 million or $0.02 per diluted share, lower than $0.8 million or $0.06 per diluted share in prior year quarter.
  • Liquidity Position - Total assets in the reported period increased to $186.2 million as at March 31, 2015 from $183.7 million as at December 31, 2014. Total current assets stood at $101.1 million at the year-end compared to $113.2 at the end of last quarter. Total liabilities were $71.3 million, higher than $68.7 million at the previous quarter-end. Total stockholder's equity of the Company reduced from $115.0 million as at December 31, 2014 to $114.9 million as at March 31, 21015. In addition, cash, cash equivalents, short-term investments and restricted cash amounted to $28.1 million, reflecting a decline from $40.9 million at the end of previous quarter. Further, the Company had $32.1 million of unused borrowing capacity on its various credit facilities as of March 31, 2015.
  • Outlook for Second Quarter 2015 - In Q2 2015, the Company expects revenue to be in the range of $43.0 million to $45.0 million. Non-GAAP gross margin is anticipated to be around 34% to 35%. Further, non-GAAP net income is projected to be in the range of $3.8 million to $4.5 million and non-GAAP fully diluted earnings per share is expected to be around $0.25 to $0.30, based on approximately 15.3 million shares.

To find out how this influences our rating on Applied Optoelectronics, Inc. read the full report in its entirely here: http://www.aciassociation.com/?c=AAOI

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