Shares of Oplink Communications Inc. (NASDAQ: OPLK), designer, manufacturer and seller of optical networking components and subsystems, rose sharply in after-hours trading on Thursday.
OPLK shares rose 5.05% to $14.98 in after-hours trading. Earlier in regular trading, the stock rose 4.85% to finish at $14.26.
OPLK shares gained after market close as investors digested the company’s latest quarterly results. For the fourth quarter ended July 1, 2012, OPLK reported revenue of $44.2 million, compared to $44 million reported in the previous year.
OPLK’s GAAP net loss for the fourth quarter was $5.2 million, or $0.27 per share, compared to GAAP net income of $2.9 million, or $0.14 per share reported in the previous quarter.
Joe Liu, Chairman and CEO of Oplink, said that the fourth quarter closed a solid year of financial performance for OPLK, especially considering the market climate in telecommunications spending. Liu said that as the company enters fiscal 2013, it expects a relatively stable order environment although there is still limited visibility overall.
For the quarter ending September 30, 2012, OPLK expects revenue to be between $43 million and $46 million. GAAP net income for the quarter is expected to be between $0.08 per share and $0.14 per share.
Shares of Gap Inc. (NYSE: GPS), a global specialty apparel company, rose in after-hours trading on Thursday.
GPS shares rose 1.34% to $34.80 in after-hours trading on Thursday. The stock had finished 0.78% lower at $34.34 in regular trading on Thursday.
GPS shares gained after-market close after the company reported its second-quarter financial results. For the second quarter ended July 28, 2012, GPS reported a 6% increase in net sales to $3.58 billion.
Comparable store sales for the quarter rose 4%. Net income for the second quarter ended July 28, 2012 came in at $243 million, representing an increase of 29% over the same period in the previous year.
Glenn Murphy, Chairman and CEO of Gap, said that customers responded well to GPS’s product offerings across its brands, driving a healthy increase in sales and earnings per share during the quarter. Murphy said that GPS’s continued focus on product and store execution are helping to drive positive momentum and is committed to sustaining solid performance for the rest of the year.
Shares of Marvell Technology Group Ltd. (NASDAQ: MRVL), a fables semiconductor provider of application specific standard products, slumped in after-hours trading on Thursday.
MRVL shares fell 9.61% to $11.10 in after-hours trading on Thursday. Earlier in regular trading, MRVL shares ended 2.85% higher at $12.28.
MRVL shares plunged in after-hours trading after the company reported its second-quarter financial results. For the second quarter ended July 28, 2012, MRVL reported revenue of $816 million, representing a decline of 9% over the same period in the previous year.
GAAP net income for the second quarter was $93 million, or $0.16 per share, compared to $192 million, or $0.31 per share reported for the same period in the previous year. On a non-GAAP basis, MRVL reported net income of $142 million, or $0.24 per share for the second quarter of fiscal 2013, compared to $234 million, or $0.38 per share reported for the second quarter of fiscal 2012.
Dr. Sehat Sutardja, Chairman and CEO of Marvell Technology, said that MRVL’s results in the second quarter were affected primarily by the slowdown in the macro-economic environment that impacted the company’s storage and mobile end markets, however, the company’s SSD, 500 gigabyte per platter HDD and wireless connectivity products grew double digits sequentially and the company’s networking end market continued to outperform on the strength of new products and share gains.
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