Acacia +10% on revenue beat, upbeat guidance [Seeking Alpha]
ACACIA COMMUNICATIONS (ACIA)
Last acacia communications earnings: 2/18 04:01 pm
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US:NASDAQ Investor Relations:
ir.acacia-inc.com/investor-overview
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Source: Seeking Alpha
Acacia Communications (NASDAQ: ACIA ) has jumped double digits in postmarket, , after beating revenue expectations with its Q2 earnings despite a Y/Y decline. Results were in line with company expectations despite being negatively impacted by the imposition of the ZTE denial order in April, says CFO John Gavin. Revenues fell 18% and the company swung to a net loss of $3.25M from a year-ago gain of $4.66M. EBITDA was -$8.9M on a GAAP basis; adjusted EBITDA came to -$1.4M. “We are pleased with the ramp of our newer products and the revenue growth opportunities we are seeing in the second half of 2018 over the first half, says CEO Raj Shanmugaraj. For Q3, it's guiding to revenues of $86M-$94M, well above expectations for $73.7M, and non-GAAP EPS of $0.10-$0.22 (above consensus for $0.08). Press release See all stocks on the move » Now read: Lantronix (LTRX) Presents At The Microcap Conference - Slideshow » Subscribe for full text news in your
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