Acacia Communications, Inc (ACIA) has reported 184.90 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $64.49 million, or $1.55 a share in the quarter, compared with $22.64 million, or $0.54 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $38.99 million, or $0.94 a share compared with $11.92 million or $0.36 a share, a year ago. Revenue during the quarter surged 107.78 percent to $142.43 million from $68.55 million in the previous year period. Gross margin for the quarter expanded 204 basis points over the previous year period to 47.97 percent. Total expenses were 70.97 percent of quarterly revenues, down from 79.42 percent for the same period last year. This has led to an improvement of 845 basis points in operating margin to 29.03 percent.
Operating income for the quarter was $41.34 million, compared with $14.10 million in the previous year period.
However, the adjusted operating income for the quarter stood at $45.95 million compared to $14.38 million in the prior year period. At the same time, adjusted operating margin improved 1128 basis points in the quarter to 32.26 percent from 20.99 percent in the last year period.
“Our solid fourth quarter results were driven by continued strong global demand for our 100G and flex-400G products from the metro and DCI markets and the ramp of our newer customers, and we are very pleased to report that we added a hyper-scale cloud and content provider, who is a direct customer deploying our AC400 product, as a significant customer in the fourth quarter,” said Raj Shanmugaraj, President and Chief Executive Officer of Acacia Communications. “We are committed to our mission of delivering high-speed optical interconnects that transform cloud, content and communication networks. We are already seeing good traction with our latest “industry first” product, the CFP2-DCO module, and we believe that our current product offerings, roadmap products, and development pipeline, position us well to take advantage of future growth opportunities.”
For the first-quarter 2017, Acacia Communications, Inc projects revenue to be in the range of $108 million to $114 million and its adjusted net income to be in the range of $27 million to $30 million and its adjusted diluted earnings per share to be in the range of $0.63 to $0.70.
Operating cash flow improves significantly
Acacia Communications, Inc has generated cash of $101.21 million from operating activities during the year, up 350.84 percent or $78.76 million, when compared with the last year. The company has spent $121.49 million cash to meet investing activities during the year as against cash outgo of $12.12 million in the last year.
Cash flow from financing activities was $199.07 million for the year as against cash outgo of $3.85 million in the last year period.
Cash and cash equivalents stood at $206.40 million as on Dec. 31, 2016, up 647.56 percent or $178.79 million from $27.61 million on Dec. 31, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
