Applied Optoelectronics (NASDAQ:AAOI) has turned 7.1% lower after a mixed Q3 gave way to some downbeat guidance for the current quarter.

Updated 4:36 p.m.: More volume has come in to settle shares around a 1.9% drop.
Third-quarter results were impacted by a delay in 100G transceiver shipments to a data-center customer, the company said, but “we remain encouraged by the demand we are experiencing with our other top datacenter customers and the increased activity and interest we are seeing in the CATV market,” says CEO Dr. Thompson Lin. Revenues fell 37% and non-GAAP gross margin dropped to 34% from 44.4%. Net income fell to $2.7M (non-GAAP) vs. $22M a year ago, and $12.9M in the second quarter. For Q4, it’s guiding to revenue of $56M-$63M (vs. consensus for $72.8M), non-GAAP gross margin of 30-31%, and EPS of -$0.07 to $0.04 (vs. consensus for $0.27).
Conference call to come at 4:30 p.m. ET. Previously: Applied Optoelectronics beats by $0.10, misses on revenue (Nov. 07 2018) Press release See all stocks on the move »Now read: Kratos -1.4% on Q3 beats, downside EPS guide »Subscribe for full text news in your inbox
Original Article can be found by clicking here