U.S. Markets open in 1 min.

NeoPhotonics tops Street 4Q forecasts

SAN JOSE, Calif. (AP) _ NeoPhotonics Corp. (NPTN) on Tuesday reported fourth-quarter profit of $2 million.

The San Jose, California-based company said it had profit of 4 cents per share. Earnings, adjusted for one-time gains and costs, were 13 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The maker of components for communications networks posted revenue of $109.8 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $108.5 million.

For the year, the company reported a loss of $205,000, swinging to a loss in the period. Revenue was reported as $411.4 million.

For the current quarter ending in April, NeoPhotonics expects its per-share earnings to range from 20 cents to 30 cents.

The company said it expects revenue in the range of $67 million to $73 million for the fiscal first quarter.

NeoPhotonics shares have dropped 25 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.08, a drop of 31 percent in the last 12 months.


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


Keywords: NeoPhotonics, Earnings Report