Reuters: Global Markets: Alliance Fiber Optics raises revenue forecast; shares jump

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Alliance Fiber Optics raises revenue forecast; shares jump Sep 17th 2013, 21:07 Tue Sep 17, 2013 5:07pm EDT (Reuters) - Alliance Fiber Optic Products Inc (AFOP.O), a supplier of fiber optic components, raised its revenue expectations for the current quarter due to a recovery in spending by telecom equipment makers. The company's shares jumped about 15 percent to $23.2 in after-market trading. Alliance Fiber Optic now expects sales above $22 million for the quarter ending September 30, higher than the $19.5 million to $20.5 million it forecast earlier. "With increased demands for datacomm applications, customer orders have been stronger than expected," Chief Executive Peter Chang said in a statement. The Sunnyvale, California-based company's shares closed at $20.24 on the Nasdaq on Tuesday.

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