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Acacia Communications volatile downward despite above-projected Q3

Published 11/10/2016, 04:58 PM
Updated 11/10/2016, 04:58 PM
Acacia Communications volatile downward despite above-projected Q3
  • Results – revenue $135.3M (+106.8% Y/Y, $4.45M above estimates), EPS $1.01 ($0.20 above estimates), gross margin 47.2%, net income $40.9M, adjusted EBITDA $46.2M
  • Q4 projections – revenue $136M-$141M (consensus $137.18M), net income $36M-$39M, EPS $0.85-$0.92 (consensus $0.78)
  • Acacia Communications (NASDAQ:ACIA) president and CEO Raj Shanmugaraj: "Our third quarter results exceeded our expectations driven by strong global demand for our products across metro and inter-data center networks. 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."
  • Shares presently down 5% in extended trading.
  • Conference call
  • Press release
  • 10-Q

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