NeoPhotonics Corporation (NPTN) has reported 400.25 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $2 million, or $0.04 a share in the quarter, compared with $0.40 million, or $0.01 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $6.29 million, or $0.13 a share compared with $6.92 million or $0.16 a share, a year ago.
Revenue during the quarter grew 23.24 percent to $109.84 million from $89.12 million in the previous year period. Gross margin for the quarter expanded 8 basis points over the previous year period to 28.25 percent. Operating margin for the quarter period stood at positive 1.68 percent as compared to a negative 0.73 percent for the previous year period.
Operating income for the quarter was $1.84 million, compared with an operating loss of $0.66 million in the previous year period.
However, the adjusted operating income for the quarter was almost stable at $6.25 million when compared with the prior year period. At the same time, adjusted operating margin contracted 131 basis points in the quarter to 5.69 percent from 7.01 percent in the last year period.
"2016 was a strong year for NeoPhotonics and we believe our capacity additions and new product introductions position us well to serve the 100G and beyond market as it continues to grow over the next several years," said Tim Jenks, chairman and chief executive officer of NeoPhotonics.
For the first-quarter, Neophotonics Corp forecasts revenue to be in the range of $67 million to $73 million. The company forecasts adjusted revenue to be in the range of $67 million to $73 million. The company expects diluted loss per share to be in the range of $0.16 to $0.26. On an adjusted basis, the company expects diluted loss per share to be in the range of $0.20 to $0.30.
Working capital declines
NeoPhotonics Corporation has witnessed a decline in the working capital over the last year. It stood at $124.47 million as at Dec. 31, 2016, down 17.69 percent or $26.74 million from $151.21 million on Dec. 31, 2015. Current ratio was at 1.85 as on Dec. 31, 2016, down from 2.35 on Dec. 31, 2015.
Debt comes down
NeoPhotonics Corporation has recorded a decline in total debt over the last one year. It stood at $41.15 million as on Dec. 31, 2016, down 6.85 percent or $3.02 million from $44.18 million on Dec. 31, 2015. Total debt was 10.53 percent of total assets as on Dec. 31, 2016, compared with 12.92 percent on Dec. 31, 2015. Debt to equity ratio was at 0.18 as on Dec. 31, 2016, down from 0.21 as on Dec. 31, 2015.
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