Business
Applied Optoelectronics Reports Fourth Quarter and Full Year 2022 Results
SUGAR LAND, Texas, Feb. 23, 2023 (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. 23, 2023 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of fiber-optic access network products for the cable broadband, internet datacenter, telecom and fiber-to-the-home (FTTH) markets, today announced financial results for its fourth quarter and full year ended December 31, 2022. “We are pleased to report revenue in line with our expectations and continued improvement in our non-GAAP gross margin, which exceeded our guidance range as our cost reduction efforts and favorable product mix had a greater than expected positive impact on our fourth quarter results,” said Dr. Thompson Lin, Applied Optoelectronics Inc. Founder, President and Chief Executive Officer. “We generated the highest quarterly CATV revenue in the Company’s history this quarter and we continue to see robust demand. With respect to the transaction that we announced in September 2022 that we have entered into an agreement with Yuhan Optoelectronic Technology for the sale of our manufacturing facilities located in the People's Republic of China and certain assets related to our transceiver business and multi-channel optical sub-assembly products for the internet datacenter, telecom and FTTH markets, we continue to advance work on required regulatory approvals and continue to expect that the transaction will close in 2023.” Fourth Quarter 2022 Financial Summary GAAP revenue was $61.6 million, compared with $54.4 million in the fourth quarter of 2021 and $56.7 million in the third quarter of 2022.GAAP gross margin was 10.1%, compared with 14.9% in the fourth quarter of 2021 and 17.2% in the third quarter of 2022. Non-GAAP gross margin was 21.4%, compared with 17.6% in the fourth quarter of 2021 and 18.0% in the third quarter of 2022.GAAP net loss was $20.3 million, or $0.71 per basic share, compared with net loss of $14.5 million, or $0.54 per basic share in the fourth quarter of 2021, and a net loss of $15.6 million, or $0.56 per basic share in the third quarter of 2022.Non-GAAP net loss was $5.4 million, or $0.19 per basic share, compared with non-GAAP net loss of $5.5 million, or $0.20 per basic share in the fourth quarter of 2021, and a non-GAAP net loss of $7.1 million, or $0.26 per basic share in the third quarter of 2022. Full Year 2022 Financial Summary GAAP revenue was $222.8 million, compared wi...