MAYNARD, Mass., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Acacia Communications, Inc. (NASDAQ: ACIA), a leading provider of high-speed coherent optical interconnect products, today announced certain preliminary unaudited financial results for its fourth fiscal quarter and fiscal year ended December 31, 2020.
Preliminary Results for the Fourth Quarter of 2020
- Revenue of $160.0 million to $164.0 million
- GAAP net income of $31.7 million to $35.4 million
- Non-GAAP net income* of $38.3 million to $42.2 million
- GAAP diluted EPS of $0.73 to $0.82
- Non-GAAP diluted EPS* of $0.88 to $0.97
Preliminary Results for the Full Year 2020
- Revenue of $579.3 million to $583.3 million
- GAAP net income of $87.7 million to $91.4 million
- Non-GAAP net income* of $123.5 million to $127.4 million
- GAAP diluted EPS of $2.03 to $2.11
- Non-GAAP diluted EPS* of $2.86 to $2.95
These preliminary unaudited financial results are based on preliminary unaudited information and management's estimates, and are inherently uncertain and subject to revision in connection with the Company's financial closing procedures and finalization of the Company’s financial statements for its fourth fiscal quarter and fiscal year ended December 31, 2020, and any adjustments identified by the Company’s auditors in the course of their review and audit, as applicable, of such financial statements. Actual results and other disclosures for the fourth fiscal quarter and fiscal year ended December 31, 2020 may differ materially from these preliminary unaudited financial results. These preliminary unaudited financial results were not prepared with a view toward complying with the guidelines established by the American Institute of Certified Public Accountants with respect to projected financial information, but, in the view of the Company’s management, were prepared on a reasonable basis, reflect management’s best currently available estimates and judgments, and present, to the best of management’s knowledge and belief, the Company’s expectations for the fourth fiscal quarter and fiscal year ended December 31, 2020. Neither the Company’s independent auditors, nor any other independent accountants, have compiled, examined, or performed any procedures with respect to these unaudited preliminary financial results, nor have they expressed any opinion or any other form of assurance on such results, and assume no responsibility for, and disclaim any association with, these preliminary unaudited financial results. These preliminary unaudited financial results should not be viewed as a substitute for full financial statements prepared in accordance with generally accepted accounting principles (“GAAP”).
*Non-GAAP net income and non-GAAP diluted earnings per share (EPS) are non-GAAP financial measures that are not prepared in accordance with GAAP. Please refer below to Use of Non-GAAP Financial Information for descriptions of these non-GAAP financial measures and to the Reconciliation of GAAP Measures to Non-GAAP Measures, attached as Schedule A, for reconciliations of the most directly comparable GAAP financial measures to these non-GAAP financial measures.
About Acacia Communications
Acacia Communications develops, manufactures and sells high-speed coherent optical interconnect products that are designed to transform communications networks through improvements in performance, capacity and cost. By implementing optical interconnect technology in a silicon-based platform, a process Acacia Communications refers to as the “siliconization of optical interconnect,” Acacia Communications is able to offer products at higher speeds and density with lower power consumption, that meet the needs of cloud and service providers and can be easily integrated in a cost-effective manner with existing network equipment. www.acacia-inc.com.
