Alliance Fiber Optic Products' (AFOP) Top Customer Cuts Spending; Needham & Company Cuts Price Target to $20
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AFOP Reports Third Quarter, 2015 Financial Results
October 28, 2015 4:05 PM EDTSUNNYVALE, Calif., Oct. 28, 2015 (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 reported its financial results for the third quarter ended September 30, 2015.
Revenues for the third quarter of 2015 were $18,060,000, similar to revenues of $18,096,000 reported in the third quarter of 2014, and a 28% decrease from revenues of $25,045,000 reported in the second quarter of 2015.
Net income for the quarter ended September 30, 2015, was $3,653,000, or $0.20 per share, compared to net income of $4,303,000, or $0.23 per share, for the third... More
