Acacia Communications (ACIA) Tops Q3 EPS by 20c; Guides Q4 EPS Above the Street
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Acacia Communications (NASDAQ: ACIA) reported Q3 EPS of $1.01, $0.20 better than the analyst estimate of $0.81. Revenue for the quarter came in at $135.3 million versus the consensus estimate of $130.85 million.
Acacia Communications sees Q4 2016 EPS of $0.85-$0.92, versus the consensus of $0.78. Acacia Communications sees Q4 2016 revenue of $136-141 million, versus the consensus of $137.2 million.
“Our third quarter results exceeded our expectations driven by strong global demand for our products across metro and inter-data center networks,” said Raj Shanmugaraj, President and CEO of Acacia Communications. “To satisfy this continued demand, we further scaled our manufacturing capacity during the quarter. As was the case in the second quarter, we continued to diversify our revenue base, with two of our newer top tier customers ranking among the top five contributors to our revenue in the third quarter. Additionally, we recently announced sampling of our coherent CFP2-DCO module, leveraging our sixth DSP ASIC developed in 16nm CMOS, which we believe demonstrates our continued technology leadership position."
“We are pleased that the continued market success of our highly-integrated product portfolio, combined with our ability to increase production capacity, led to enhanced profitability during the third quarter,” said John Gavin, CFO of Acacia Communications. “We are also pleased to have completed our follow-on offering last month, which strengthened our balance sheet and provides us with financial flexibility to pursue our growth objectives and expand our product offerings.”
For earnings history and earnings-related data on Acacia Communications (ACIA) click here.
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