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Alliance Fiber Optic Products (NASDAQ:AFOP)’s quarter net sales are up

Boston, MA 05/23/2013 (wallstreetpr) – The share prices of Alliance Fiber Optic Products (NASDAQ:AFOP) surged by 9.31 percent after the company lifted its second quarter sales guidance. The shares of the company increased by $1.62 to close at $19.02 for the end of trading session. The shares of Alliance Fiber Optic Products (NASDAQ:AFOP) traded in the range of $17.87 per share to $20.49 per share thereby readjusting the 52 week high price to the new levels.

Alliance Fiber Optic Products (NASDAQ:AFOP) lifted the net sales guidance for this quarter to $16 million, which was higher than the previously stated revenue guidance of $14 million. Further the company also expects to provide better gross profit margins quarterly profits for the second quarter of 2013. The expanded capacity of operations and stronger than expected customer demand enabled Alliance Fiber Optic Products (NASDAQ:AFOP) to expect better results for the quarter.

Alliance Fiber Optic Products (NASDAQ:AFOP) is involved in the design, manufacture and distribution of  range of fiber optic components, and integrated modules incorporating these components, for communications equipment manufacturers and service providers. The Company offers a range of products, including interconnect devices that are used to connect optical fibers and components, couplers and splitters that are used to divide and combine optical power, and dense wavelength division multiplexing (DWDM) devices that separate and combine multiple specific wavelengths.

The average trading volume for Alliance Fiber Optic Products (NASDAQ:AFOP) is at 56,839 shares per day and the company has total outstanding volume of 8.80 million shares.

Published by Viraj Shah

Viraj Shah has done M.Com (Finance) and currently pursuing CFP. He is a technical analyst who tracks US markets along with other global markets like India very closely. He is very passionate about stocks and believes that money can always be made in market.

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