AFOP Announces Preliminary Financial Results with Record Quarterly Sales and the Second Quarter 2010 Conference Call Invitation
June 30 2010 - 4:05PM
Business Wire
Alliance Fiber Optic Products, Inc. (Nasdaq CM: AFOP), an
innovative supplier of fiber optic components, subsystems and
integrated modules for the optical network equipment market, today
announced its preliminary net sales for the quarter ending June 30,
2010. These results are subject to change as a result of final
management review and closing adjustments for the quarter ending on
June 30, 2010.
For the 2nd quarter of 2010, the Company expects to report net
sales above $11.5 million, which is a new record for AFOP quarterly
sales and exceeds the previously raised revenue guidance of $10
million from the press release dated May 20, 2010. The Company's
higher than anticipated net sales in the second quarter of 2010
primarily reflects stronger than expected bookings from key
customers and continuous business progress achieved in the first
half of YR 2010. AFOP expects to report that quarterly profits will
improve significantly compared with both the previous quarter and
the year ago quarter as well.
A more detailed review of second quarter financial results as
well as the outlook for the third quarter of 2010 will be provided
when complete second quarter results are announced on a conference
call at 1:30 p.m. (Pacific) on July 22, 2010. To participate in
AFOP’s conference call, please call 877-407-9210 at least ten
minutes prior to the call in order for the operator to connect you.
The confirmation number for the call is 352601.
About AFOP
Founded in 1995, Alliance Fiber Optic Products, Inc. designs,
manufactures and markets a broad range of high performance fiber
optic components and integrated modules. AFOP's products are used
by leading and emerging communications equipment manufacturers to
deliver optical networking systems to the long-haul, enterprise,
metropolitan and last mile access segments of the communications
network. AFOP offers a broad product line of passive optical
components including connectivity systems, couplers and splitters,
thin film CWDM and DWDM components and modules, optical
attenuators, and micro-optics devices. AFOP is headquartered
in Sunnyvale, California, with manufacturing and product
development capabilities in the United States, Taiwan and China.
AFOP's website is located at http://www.afop.com.
Except for the historical information contained herein, the
matters set forth in this press release, including statements as to
our expectations regarding future revenue levels, our ability to
generate profits from operations and the time periods thereof, our
beliefs regarding business conditions, our customer base, our
product portfolio, our ability to continue to focus on our
operational efficiencies or our successes in doing so, and our
ability to continue to invest in growth opportunities, are forward
looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including, but not limited to general economic conditions and
trends, the impact of competitive products and pricing, timely
introduction of new technologies, timely design acceptance by our
customers, the acceptance of new products and technologies by our
customers, customer demand for our products, the timing of customer
orders, loss of key customers, ability to ramp new products into
volume production, the costs associated with running our
operations, industry-wide shifts in supply and demand for optical
components and modules, industry overcapacity, failure of cost
control initiatives, financial stability in foreign markets, and
other risks detailed from time to time in our SEC reports,
including AFOP's quarterly report on Form 10-Q for the quarter
ended March 31, 2010. These forward-looking statements speak only
as of the date hereof. AFOP disclaims any intention or obligation
to update or revise any forward-looking statements.
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