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May 22nd, 2014
NeoPhotonics profits down despite growing demand
NeoPhotonics ended 2013 with an annual net loss of $34.3 million, an increase from the $17.5 million annual net loss it reported for 2012.
The company’s fourth-quarter net loss was $4.5 million, a decrease from a net loss of $9.4 million in the third quarter of 2013 and up from a net loss of $3 million in the fourth quarter of 2012.
Revenue for the year was $282.2 million, an increase of $36.8 million, or 15 percent, from $245.4 million in 2012. Fourth-quarter 2013 revenue was down 20 percent, to $74.4 million, compared to the same period in 2012.
Chairman and CEO Tim Jenks said NeoPhotonics has seen growth in global 100-Gigabit Ethernet deployments, particularly in China and North America, and touted growing demand for the company’s communications components. He said the company recently introduced several new products, including next-generation, smaller, lower-power lasers, transmitters and receivers for 100-Gb coherent transmission; 100-Gb CFP2 transceivers for use in data centers; and 100-Gb semiconductor laser arrays, as well as drivers for modulators and lasers.
The company projects revenue in the range of $67.5 million to $68.5 million in the first quarter of 2014 and in the range of $73 million to $78 million in the second quarter.
NeoPhotonics designs and manufactures photonic integrated circuits-based optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks.
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