AFOP's latest financial report: 4Q15 revenue fell year-on-year, optimistic about 2016 performance
AFOP Corporation, an innovative supplier of optical components, subsystems and integrated modules for the optical network equipment market, yesterday announced its fourth fiscal quarter ended December 31, 2015 financial performance.
Sales revenue in the fourth quarter was US$16.421 million, down 9% from the previous quarter and down 13% from the same period last year.
Net income was US$787,000, or 5 cents per share, compared with US$3.653 million, or 20 cents per share, last quarter, and net income of US$1.409 million, or 8 cents per share, in the same period last year. cents.
Full-year sales revenue in 2015 was US$81.189 million, a 6% decrease from US$85.987 million in 2014.
Net income was US$13.038 million or 74 cents per share, compared with US$14.508 million or 78 cents per share last year.
"Fiscal 2015 was a year of continued profitability and investment for AFOP," said AFOP CEO Peter Chang.
"Due to the weakness in the second half of 2015, overall Annual sales revenue fell 6% from the record figure in 2014.
Thanks to our operational efficiency, the company's annual and quarterly gross profit margins are higher than the average level of our peers.
In fiscal year 2015, AFOP non-GAAP gross profit margin increased by 1 percentage point to 41% compared with fiscal year 2014.
In addition, during 2015, we repurchased more than 2.5 million shares, increasing shareholder value by reducing the number of outstanding shares while still maintaining a strong balance sheet.
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“Looking ahead to 2016, we are encouraged by the continued strong demand in the global fiber optic market.
We expect first-quarter 2016 sales to be in the range of $17-19 million, with earnings per share rising as stock repurchases reduce shares outstanding and there are no annual tax adjustments for foreign subsidiaries .
We estimate that driven by the continued quarter-on-quarter growth in quarterly sales revenue, sales revenue and profit will reach new records in 2016," Mr. Chang concluded.
