Alliance Fiber Optic Products (AFOP) Misses Q3 EPS by 5c; Approves Stock Buyback
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Alliance Fiber Optic Products, Inc. Announces Stock Repurchase Program
October 29, 2014 4:07 PM EDTSUNNYVALE, Calif., Oct. 29, 2014 (GLOBE NEWSWIRE) -- Alliance Fiber Optic Products, Inc. (Nasdaq: AFOP) today announced that its board of directors has approved a stock repurchase program under which it will begin purchasing up to fifteen million dollars of its outstanding shares of Common Stock. The duration of the repurchase program is open-ended.
Under the program, AFOP could purchase shares of Common Stock from time to time through open market and privately negotiated transactions at prices depending on... More
AFOP Reports Third Quarter, 2014 Financial Results With Sequential Growth Guidance
October 29, 2014 4:05 PM EDTSUNNYVALE, Calif., Oct. 29, 2014 (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, 2014.
Revenues for the third quarter of 2014 were $18,096,000, a 22% decrease from revenues of $23,074,000 reported in the third quarter of 2013, and a 25% decrease from revenues of $24,199,000 reported in the second quarter of 2014.
Net income for the quarter ended September 30, 2014, was $4,303,000, or $0.23 per share, compared to net income of $5,621,000, or $0.31 per share, for the third... More
