Shares of Opnext Inc. (NASDAQ: OPXT), a designer and manufacturer of optical components, modules and subsystems for communication uses, are sharply higher in trading today.
At last check, OPXT shares were trading 9.91% higher at $1.16 on above average volume of 1.10 million.
Opnext last month reported its fourth-quarter and full-year ended March 31, 2012. For the fourth quarter ended March 31, 2012, OPXT reported revenue of $67.6 million, representing an increase of 27% over the previous quarter. On a year-over-basis, however, the company’s revenue fell 29%.
Revenue from sales of 40Gbps and above products rose 50% on a sequential basis as demand improved across most 40Gbps and 100Gps product lines.
Opnext reported EBITDA of negative $14.7 million for the fourth quarter ended March 31, 2012, compared with negative $38.9 million reported in the previous quarter.