Acacia Communications (ACIA) Tops Q2 EPS by 8c

Acacia Communications (NASDAQ: ACIA) reported Q2 EPS of $0.26, $0.08 better than the analyst estimate of $0.18. Revenue for the quarter came in at $78.9 million versus the consensus estimate of $79.51 million.

GUIDANCE:

Acacia Communications sees Q3 2017 EPS of $0.25-$0.40, versus the consensus of $0.36. Acacia Communications sees Q3 2017 revenue of $95-110 million, versus the consensus of $103.27 million.

“As we previously announced, our second quarter results were adversely affected by the quality issue identified at one of our three contract manufacturers,” said Raj Shanmugaraj, President and Chief Executive Officer of Acacia Communications. “Looking forward, we are seeing improving order rates in the third quarter from some of our key customers, including our largest customer in China, and customers in the metro and DCI markets. We are also pleased with the traction we are seeing with our new products, especially our “industry first” CFP2-DCO module and our in development Pico-based 1.2 Tbps solution. We remain confident that our growth strategy is on track.”

“Despite a challenging second quarter, we believe we are well positioned to meet customer demand for our products in the third quarter,” said John Gavin, Chief Financial Officer of Acacia Communications. “Further, we believe that our talented employees, business model, market strategy, strength of our balance sheet and differentiated products position us for future growth.”

For earnings history and earnings-related data on Acacia Communications (ACIA) click here.

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