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NeoPhotonics Corp (NYSE:NPTN) Q1 Revenue Jumps 22%, Beats Estimates

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By on Street Watch

NeoPhotonics Corp (NYSE:NPTN), a maker of photonic circuits for high-speed communications networks, reported a 22% jump in Q1 revenue, slightly above analysts’ expectations. 

Revenue increased to $68.2 million in the first quarter, from $56.1 million a year earlier, the San Jose, California-based company said. That result topped the $68.1 million average estimate of 6 analysts compiled by Capital IQ. 

Net loss slightly expanded to $12.6 million, or $0.40 diluted net loss per share, in the first quarter, from a net loss of $12.2 million, or $0.40 diluted net loss per share, a year earlier. 

Non-GAAP diluted net loss per share was $0.30, matching analysts’ expectations. 

Looking ahead, the company projected Q2 revenue in the range of $73 million to $78 million, and Q2 non-GAAP net loss in the range of $0.16 to $0.26 per diluted share. 

Analysts are looking for net loss of $0.19 per share on revenue of $75.4 million. 

Shares rose 1.9% to close at $4.36, paring this year’s slump to 38%.

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