-----Acacia (ACIA) reported earnings on Thur 1 Nov 18 (a/h)

• Acacia competes with Finisar (FNSR), Lumentum Holdings (LITE) and others.
• Acquired by Cisco Systems (CSCO) for $4.5 billion. (Jan 2021)

 

Acacia Communications (ACIA) late Thursday reported lower third-quarter revenue and profit from a year earlier, but results beat analyst estimates. Acacia stock surged in after-hours trading as December-quarter guidance topped expectations.

The maker of optical communications devices said adjusted third-quarter earnings were 42 cents a share, down 9% from a year ago, as revenue fell 10% to $94.8 million, topping forecasts. A year earlier, Acacia earnings were 46 cents a share on sales of $345.8 million.

Analysts expected Acacia to report earnings of 17 cents on sales of $90 million for the period ended Sept 30.

In the December quarter, Acacia forecast revenue of $102 million at its midpoint of guidance and profit of 35 cents per share. Analysts had projected $99.7 million and profit of 31 cents.

Acacia Stock Swooned After Hot IPO
Shares in the maker of optical devices for telecom networks and data centers jumped 8.3% to 39.50 in after-hours trading on the stock market today.

Acacia stock was down 15% from a year ago as of Thursday's market close.

Acacia went public on May 13, 2016, pricing shares at 23 and raising $119 million. Shares reached a high of 128.73 on Sept. 7 of that year.

Acacia stock swooned after the fiber-optic-parts maker's biggest customer, Chinese telecom gear firm ZTE, ran into trouble.

Acacia May Get Boost From 400G Upgrades
Some analysts say Acacia sales could rebound as customers upgrade to 400-gigabit-per-second communications gear from 100-Gbps products.

Maynard, Mass.-based Acacia makes digital signal processors and photonic integrated circuits. The two products are combined in modules that plug into 100-gigabit-per-second or 400-GB network equipment.