Applied Optoelectronics: Q3 Earnings Snapshot

SUGAR LAND, Texas (AP) — SUGAR LAND, Texas (AP) — Applied Optoelectronics Inc. (AAOI) on Thursday reported third-quarter net income of $6.3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Sugar Land, Texas-based company said it had net income of 7 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 17 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The maker of fiber optic products used by cable TV providers posted revenue of $269.9 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $269.2 million.

Applied Optoelectronics expects full-year earnings in the range of 48 cents to 63 cents per share, with revenue in the range of $385 million to $420 million.

Applied Optoelectronics shares have increased 35% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.89, a rise of 49% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAOI at https://www.zacks.com/ap/AAOI