GigOptix announced it currently expects revenue for the fourth quarter of fiscal year 2015, ended December 31, 2015, will be approximately $11.1 million.
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This ia an increase of approximately 6 percent from the third quarter of fiscal 2015, approximately 4 percent above the previous guidance of $10.7 million provided on October 19, 2015, and an increase of approximately 23 percent above the $9.0 million reported in the fourth quarter of fiscal year 2014.
In addition, based on the fourth quarter preliminary revenue outlook, GigOptix expects fiscal year 2015 revenue to be approximately $40.4 million, representing an increase of approximately 23 percent when compared with fiscal year 2014 revenue of $32.9 million.
Continued robust demand across all GigOptix’s High Speed Communications (HSC) product line, primarily for its 40Gbps QSFP+ devices used in Web 2.0 OEMs data center links, and enhanced demand for its Industrial ASIC devices used in legacy and new Internet-of-Things (IoT) applications, resulted in both the higher than initially forecasted revenue for the fourth quarter, and led to strong bookings for the first quarter of fiscal 2016.
With the better than forecasted preliminary fourth quarter revenue, and the continuously improving margin performance, GigOptix believes non-GAAP earnings per share will be approximately $0.05 in the fourth quarter, resulting in non-GAAP earnings per share of approximately $0.19 for all of fiscal year 2015.
This compares with non-GAAP earnings per share of $0.03 in the fourth quarter a year ago, or growth of about 67 percent over the same quarter a year ago, and $0.04 for all of fiscal year 2014, or growth of about 375 percent over the previous fiscal year.
GigOptix cautions that the anticipated fourth quarter and fiscal 2015 revenue and non-GAAP earnings per share results are preliminary and are based on the best information currently available to management, and subject to completion of the financial statements for the fourth quarter and fiscal 2015. ■