NeoPhotonic Corp. (NYSE: NPTN) reported its fourth-quarter financial results after the markets closed on Tuesday. The company said it had $0.16 in earnings per share (EPS) on revenue of $89.1 million, versus Thomson Reuters consensus estimates of EPS of $0.10 and $84.45 million in revenue. The same period from last year had $0.19 in EPS on $78.98 million in revenue.
In the fourth quarter the company reported record revenue that grew 12.8% from the previous year. At the same time gross margin was 32.4%, up from 30.3%.
In terms of guidance for the first quarter, the company expects to have EPS in the range of $0.10 to $0.18 and revenues in the range of $92 million to $98 million. There are consensus estimates that call for $0.08 in EPS on $83.14 million in revenue.
On the books, cash and cash equivalents, short-term investments and restricted cash and investments, together totaled $102.0 million, down from $103.6 million sequentially.
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Tim Jenks, CEO of NeoPhotonics, commented on earnings:
We are pleased to report record results for the fourth quarter and the full fiscal year of 2015. For the quarter, we reported record revenue, non-GAAP gross profit and net income. And for the year we reported both record revenue and record non-GAAP earnings, making it the best year in the Company’s history. The market for 100G and beyond optical networks is growing very robustly and NeoPhotonics’ leading product positions coupled with our new product introductions for coherent transport and data center applications places us in an advantageous position for the coming year. We are currently expecting full year revenue growth for 2016 to be in the range of 15% overall.
Shares of NeoPhotonic closed Tuesday up 5.8% at $11.59, with a consensus analyst price target of $11.54 and a 52-week trading range of $3.39 to $11.64. Following the release of the earnings report, the stock was up 3.5% at $12.00 in the after-hours trading session.
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