Applied Optoelectronics down more than 17% on profit, revenue warning

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Shares of Applied Optoelectronics Inc.












AAOI, -4.23%










fell 17% late Thursday after the Sugar Land, Texas, company warned investors about lower-than-expected third-quarter profit and revenue thanks to lower sales to one of its larger data-center customers. The company called for a GAAP profit in the range of $18.6 million to $19.6 million and an adjusted profit between $21.2 million and $22.2 million, compared with a previous outlook of non-GAAP profit between $26.6 million and $29.4 million. GAAP per-share earnings were tweaked lower to between 91 cents and 96 cents, and adjusted earnings per share seen in a range of $1.04 to $1.09, compared with a previous forecast of adjusted earnings of $1.30 a share to $1.43 a share. Applied Optoelectronics shares ended the regular session down 4.2%.

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