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Applied Optoelectronics posts 4Q profit

SUGAR LAND, Texas (AP) _ Applied Optoelectronics Inc. (AAOI) on Thursday reported fourth-quarter net income of $14.2 million.

On a per-share basis, the Sugar Land, Texas-based company said it had profit of 77 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 84 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The maker of fiber optic products used by cable TV providers posted revenue of $84.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $82.7 million.

For the year, the company reported profit of $31.2 million, or $1.76 per share. Revenue was reported as $260.7 million.

For the current quarter ending in April, Applied Optoelectronics expects its per-share earnings to range from 80 cents to 88 cents.

The company said it expects revenue in the range of $87 million to $91 million for the fiscal first quarter.

Applied Optoelectronics shares have increased 60 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.47, more than doubling 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

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Keywords: Applied Optoelectronics, Earnings Report