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SUGAR LAND, Texas (AP) _ Applied Optoelectronics Inc. (AAOI) on Thursday reported second-quarter net income of $29.1 million.
On a per-share basis, the Sugar Land, Texas-based company said it had net income of $1.43. Earnings, adjusted for one-time gains and costs, came to $1.54 per share.
While telecom companies have been the company's primary customers, Applied Optoelectronics has been getting a boost from new customers such as Amazon.com (AMZN), Microsoft (MSFT) and Facebook (FB).
The internet companies are upgrading data centers to superfast communications for cloud-based services. Tech firms are upgrading to 100-gigabit-per-second technology in data centers packed with computer servers.
Applied Optoelectronics sees weak revenue for the current quarter, shocker given that the optical stock had raised or beaten guidance several times this year. It cited some slower demand from a large customer, which could be Amazon. Applied Opto, the No. 1 stock in the No.1-rated Telecom-Fiber Optics group, crashed early Friday. Acacia Communications (ACIA) and Infinera (INFN) also had bad news late Thursday. Earlier in the week, Macom Technology Solutions Holdings (MTSI), an optical-related chipmaker, sees weak China demand. However, Oclaro (OCLR) reported better-than-expected fiscal fourth-quarter profit and revenue and sees strong demand in the current fiscal year.
Several other optical stocks fell in late trading, including Lumentum (LITE), Oclaro (OCLR) and Finisar (FNSR). Acacia Communications (ACIA), which gave weak September guidance late Thursday, also retreated.
Infinera (INFN), which makes system-level fiber-optic products, was down 9% to 10.40 in late trading. Infinera reported second-quarter results late Thursday. June-quarter revenue missed views while the company reported a loss of 15 cents a share, in line with expectations.
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