SAN JOSE, Calif. (AP) _ NeoPhotonics Corp. (NPTN) on Thursday reported first-quarter net income of $6.3 million, after reporting a loss in the same period a year earlier.
The San Jose, California-based company said it had net income of 12 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 17 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The maker of components for communications networks posted revenue of $97.4 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $86.4 million.
For the current quarter ending in July, NeoPhotonics expects its per-share earnings to range from 5 cents to 15 cents.
The company said it expects revenue in the range of $94 million to $102 million for the fiscal second quarter.
NeoPhotonics shares have risen 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.63, an increase of 48% in the last 12 months.