Alliance Fiber Optic Products Inc. (AFOP) announced that it expects to report net sales for the second-quarter of 2013 above $16 million, exceeding the previously stated revenue guidance of $14 million. This revenue level represents a 32% and 39% increase on a sequential and year over year basis respectively.
In addition, with such record quarterly revenues, the company expects improved gross margin and record quarterly profits in the 2nd quarter of 2013 as well.
"We are pleased to raise our guidance. Customer demands remained stronger than expected, since the last conference call, while our operation made continuous progress in capacity expansion. With all the progress we have made so far, we are optimistic about delivering record quarterly financial performance in this quarter. We will continue capacity expansion efforts to support our customers' growing demand and to increase AFOP market share in this upcoming industry growth cycle," said Peter Chang, President and Chief Executive Officer.
The company said it will provide detailed financial results for the second quarter as well as the outlook for the third quarter of 2013, when complete second quarter end results are announced on a conference call to be held in the week of July 22, 2013.
AFOP is currently trading at $20.35, up $2.95 or 16.95 percent.
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