Exceeded Revenue and Earnings Guidance
Net revenue for the quarter was $270.8 million, above the guidance range of $255 million to $265 million. EPS at $0.13 was above the guidance range of $0.09 to $0.11.
Strong Performance in NSE Segment
NSE revenue was $199.9 million, at the high end of the guidance range, with a year-over-year increase of 11.3%. Operating margin increased by 510 basis points year-over-year.
Significant Growth in Fiber Lab and Production
Fiber lab and production demand was up significantly, driven by growth in lab fiber and optical transport, and shipment of the first 1.6 terabit fiber product.
Aerospace and Defense Business Growth
Continued robust year-on-year growth in the aerospace and defense business segment, driven by mission-critical products.
Positive Cash Flow from Operations
Cash flow from operating activities was $44.7 million, more than double the $20.4 million from the same period last year.