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Applied Optoelectronics stock falls after weak earnings forecast

Max A. Cherney

Applied Optoelectronics Inc. shares fell more than 8% in the extended session Thursday after the company issued weaker-than-expected guidance for the first quarter. The company reported fourth-quarter net losses of $8.6 million, or 43 cents a share, compared with net income of $5.7 million, or 28 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation, earnings were 2 cents a share. Revenue fell to $58 million from $79.9 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted losses of 4 cents a share on revenue of $60.2 million. For the first quarter, analysts model adjusted earnings of 5 cents a share on sales of $64.2 million. The company said it expects adjusted net losses of 18 cents to 29 cents a share on revenue of $50 million to $55 million. Applied Optoelectronics stock has dropped 58% in the past year, with the S&P 500 index rising 3.1%.