Acacia stock falls after earnings beat [MarketWatch]
ACACIA COMMUNICATIONS (ACIA)
Last acacia communications earnings: 2/18 04:01 pm
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Source: MarketWatch
Acacia stock falls after earnings beat Acacia Communications Inc. ACIA, +0.17% shares fell more than 4.5% in the extended session Thursday after the networking company reported second-quarter results that topped consensus estimates. The company reported first-quarter net income of $7 million, or 17 cents a share, compared with losses of $9.1 million, or 23 cents a share, in the year-ago period. Adjusted for stock-based compensation and costs related to litigation, among other items, earnings were 37 cents a share. Revenue rose to $105.2 million from $72.9 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 28 cents a share on revenue of $101.1 million. For the second quarter, analysts model adjusted earnings of 36 cents a share and revenue of $107.9 million. Acacia said it expects second-quarter adjusted earnings of 28 cents to 42 cents a share on sales of $104 million to $112 million. Acacia stock has gained 109% in the past year, with t
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