DALLAS, Feb. 7, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Opnext Inc. (Nasdaq:OPXT). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
Opnext Inc. (OPXT) designs and manufactures optical components, modules, and subsystems for communications uses. It sells the products, which enable high speed network connectivity to address the increasing data usage by the global population, to other businesses. Additionally, the Company sells infrared and visible light optical devices for industrial and commercial use. OPXT is the optical technology partner of choice supplying systems providers and OEMs worldwide with one of the industry's largest portfolios of 10G and higher next generation optical products and solutions.
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In the report, the analyst notes:
"OPXT shares rallied 29% Friday to reach a new 52-week high of $2.91. OPXT saw trading volume hit 6.50 million, nearly 13 times its average daily volume. It is currently trading above its 50-day and 200-day moving averages of $1.90 and $1.64, respectively. At Friday's closing market price, OPXT's market capitalization stands at $231.02 million."
OPX saw another record quarter with revenue of $97.1 million, representing its fourth consecutive quarterly growth. OPXT president and CEO Harry Bosco said the growth was broad based across most product lines and was led by strong 40Gbps and above module sales. "This growth, together with lower R&D expenses, allowed the Company to achieve a positive adjusted EBITDA," said Bosco.
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