Stock Alert: NeoPhotonics Down 6%

(RTTNews) - Shares of NeoPhotonics Corp. (NPTN) are losing more than 6 percent or $0.60 in Friday's morning trade at $9.02. The stock has traded in a range of $3.26 to $9.99 in the past 52 weeks.

San Jose, California-based NeoPhotonics Corp. is a manufacturer of advanced hybrid photonic integrated circuit-based modules and subsystems for bandwidth-intensive, high speed communications networks.

Thursday, NeoPhotonics said its net income for the first quarter was $6.31 million or $0.12 per share, compared to net loss of $14.09 million or $0.30 per share a year ago. Adjusted earnings were $0.17 per share, compared to adjusted loss of $0.19 per share in the year-ago period.

Revenue for the quarter grew 23 percent to $97.40 million from $79.37 million in the year-ago period.

For the second quarter, the company forecasts earnings in a range of net loss of $0.02 per share to net profit of $0.08 per share, adjusted earnings of $0.05 per share to $0.15 per share, and revenue in a range of $94 million to $102 million. The outlook includes about $10 million of Covid-19 pandemic related impact to second-quarter revenue, due to identified supply chain risks.