Applied Optoelectronics, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported total revenue of $70,137,000 against $57,085,000 a year ago. Operating income was $6,760,000 against $6,122,000 a year ago. Net income before income taxes was $6,404,000 against $3,106,000 a year ago. Net income was $17,736,000 or $0.97 per diluted share against $2,700,000 or $0.16 per diluted share a year ago. Non-GAAP operating income was $8,055,000 against $6,925,000 a year ago. Non-GAAP net income was $6,956,000 against $6,663,000 a year ago. Adjusted EBITDA was $11,471,000 against $9,655,000 a year ago.

For the nine months, the company reported total revenue of $175,813,000, compared with $136,951,000 a year ago. Operating income was $7,176,000 against $10,695,000 a year ago. Net income before income taxes was $5,537,000 against $8,655,000 a year ago. Net income was $17,009,000 or $0.95 per diluted share against $8,114,000 or $0.50 per diluted share a year ago. Non-GAAP operating income was $11,064,000 against $13,185,000 a year ago. Non-GAAP net income was $9,136,000 against $13,025,000 a year ago. Adjusted EBITDA was $20,215,000 against $20,534,000 a year ago.

For the fourth quarter of 2016, the company currently expects revenue in the range of $75 million to $79 million; non-GAAP gross margin in the range of 34% to 35.5%; and non-GAAP net income in the range of $8.5 million to $9.5 million, and non-GAAP fully diluted earnings per share in the range of $0.46 to $0.51 using approximately 18.5 million shares.

The company expects mid-term annual effective tax rate starting in 2017 to be approximately 20%.