Acacia Communications (ACIA) Guides Q3 Revenue, EPS to High-End of Expectations
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Acacia Communications (Nasdaq: ACIA) disclosed the following in a U.S. SEC filing on Monday:
Item 8.01 Other Events
Unaudited Financial Outlook for the Third Quarter of 2016
Based on preliminary unaudited information and estimates of the management of Acacia Communications, Inc. (the “Company”) for the three months ending September 30, 2016, and subject to the completion of the 2016 third quarter and its financial closing procedures, in the three months ending September 30, 2016, the Company expects revenue of $127 million to $131 million, GAAP net income of $23 million to $27 million, non-GAAP net income of $29 million to $33 million, GAAP diluted earnings per share of $0.58 to $0.67 and non-GAAP diluted earnings per share of $0.72 to $0.81.
*** The Street sees Q3 revenue of $127.7 million and EPS of $0.72.
The above information contains forward-looking statements and was not prepared with a view toward complying with the guidelines established by the American Institute of Certified Public Accountants with respect to projected financial information, but, in the view of the Company’s management, was prepared on a reasonable basis, reflects the best currently available estimates and judgments, and presents, to the best of management’s knowledge and belief, the Company’s expectations for the three months ending September 30, 2016. Neither the Company’s independent auditors, nor any other independent accountants, have compiled, examined, or performed any procedures with respect to the above information, nor have they expressed any opinion or any other form of assurance on such information, and assume no responsibility for, and disclaim any association with, the above information. In addition, the foregoing information is subject to revision as the Company completes the third quarter of 2016 and its corresponding financial closing procedures. The results and other disclosures for the three months ending September 30, 2016 may differ materially from the above information as a result of, among other things, the important factors discussed under “Risk Factors” and elsewhere in the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”) on September 26, 2016, the Company’s other filings with the SEC and other public announcements that the Company may make, by press release or otherwise, from time to time.
The above information should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. In addition, the above information is not necessarily indicative of the results to be achieved for any future period and is subject to risks and uncertainties, many of which are not within the Company’s control. The Company undertakes no duty or obligation to publicly update or revise the information contained in this report, although it may do so from time to time as its management believes is warranted.
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