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Applied Optoelectronics Q1 loss widens YOY

Applied Optoelectronics Inc. said its normalized net income for the first quarter came to a loss of 6 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.

The per-share loss widened year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $948,750, compared with a loss of $415,630 in the prior-year period.

The normalized profit margin dropped to negative 1.9% from negative 1.4% in the year-earlier period.

Total revenue climbed 66.8% on an annual basis to $50.4 million from $30.2 million, and total operating expenses rose 64.7% year over year to $52.0 million from $31.6 million.

Reported net income totaled a loss of $1.4 million, or a loss of 8 cents per share, compared to a loss of $742,210, or a loss of 5 cents per share, in the prior-year period.