SUNNYVALE, Calif., March 25, 2013 (GLOBE NEWSWIRE) -- Alliance Fiber Optic Products, Inc. (Nasdaq:AFOP), an innovative supplier of fiber optic components, subsystems and integrated modules for the optical network equipment market, today announced that it will raise its revenue guidance for the quarter ended March 31, 2013.
For the 1st quarter of 2013, the Company expects to report net sales in the range of $12 million, exceeding the previously stated revenue guidance provided in the fourth quarter, 2012 conference call. In addition, with strong bookings, the Company expects continued growth in the 2nd quarter of 2013.
"The Company's higher than anticipated net sales in the 1st quarter of 2013 primarily reflects stronger than expected demands from customers across several lines and market segments. In addition, our operation performed exceedingly well managing the timely recovery of the Chinese New Year shutdown. With this good beginning to 2013, we will continue our capacity expansion efforts to support our customers' growing demand anticipated in the remainder of the year," Commented by Peter Chang, President and Chief Executive Officer.
Detailed financial results for the first quarter as well as the outlook for the second quarter of 2013 will be provided, when complete first quarter end results are announced on a conference call to be held in the week of April 22, 2013.
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 interconnect 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 and profits and the time periods thereof, 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, trends in demand for bandwith, 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, our ability to ramp new products into volume production, the mix of products sold and product pricing, the costs associated with running our operations, industry-wide shifts in supply and demand for optical components and modules, industry overcapacity and demand for bandwith, the success of cost control initiatives, our ability to obtain and maintain operational efficiencies, financial stability in foreign markets, and other risks detailed from time to time in our SEC reports, including AFOP's annual report on Form 10-K for the year ended December 31, 2012. 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.
CONTACT: Anita Ho Acting Chief Financial Officer Alliance Fiber Optic Products, Inc. Phone: 408-736-6900 x168
Source:Alliance Fiber Optic Products, Inc.