Business
Applied Optoelectronics Reports Fourth Quarter and Full Year 2019 Results
SUGAR LAND, Texas, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of fiber-optic access network products
About this update from Applied Optoelectronics, Inc.
[{"type":"text","content":"SUGAR LAND, Texas, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of fiber-optic access network products for the internet datacenter, cable broadband, telecom and fiber-to-the-home (FTTH) markets, today announced financial results for its fourth quarter and full year ended December 31, 2019.\n “We are encouraged with our financial performance in the fourth quarter, which reflects another quarter of sequential revenue growth,” said Dr. Thompson Lin, Applied Optoelectronics Inc. Founder, President and Chief Executive Officer. “We are pleased by the customer interest we are seeing for our 400G products and are delighted to announce that we recently secured our first 400G design win with a Tier 1 network equipment manufacturer. Looking ahead, while we expect a continued soft cable TV environment, coupled with typical seasonal patterns and the effects of the coronavirus, to impact our near-term results, we expect this to be partially offset by growth in our datacenter and telecom segments driven by datacenter upgrades and 5G related sales.” Fourth Quarter 2019 Financial Summary Total revenue was $48.7 million, compared with $58.0 million in the fourth quarter of 2018 and $46.1 million in the third quarter of 2019. GAAP gross margin was 23.3%, compared with 18.2% in the fourth quarter of 2018 and 26.0% in the third quarter of 2019. Non-GAAP gross margin was 27.6%, compared with 24.7% in the fourth quarter of 2018 and 28.8% in the third quarter of 2019. GAAP net loss was $35.4 million, or $1.76 per basic share, compared with net loss of $8.6 million, or $0.43 per basic share in the fourth quarter of 2018, and a net loss of $8.8 million, or $0.44 per basic share in the third quarter of 2019. Non-GAAP net loss was $3.6 million, or $0.18 per basic share, compared with non-GAAP net loss of $0.5 million, or $0.02 per diluted share in the fourth quarter of 2018, and a non-GAAP net loss of $2.9 million, or $0.15 per basic share in the third quarter of 2019. Please refer to the section below on non-GAAP measures, especially regarding the treatment of deferred tax expense, for additional details. Full Year 2019 Financial Summary Total revenue was $190.9 million, compared with $267.5 million in 2018. GAAP gross margin was 24.2%, compared with 32.8% in 2018. Non-GAAP gross margin was 27.2% compa...