AFOP Declares Two-for-One Stock Split
August 15 2013 - 3:05PM
Alliance Fiber Optic Products, Inc. (Nasdaq:AFOP), an innovative
supplier of fiber optic components, subsystems, and integrated
modules for the optical network equipment market, today announced
that its Board of Directors approved a two-for-one stock split of
the Company's Common Stock in the form of a 100% common stock
dividend. Shareholders of record as of the close of business on
August 30, 2013 will receive one additional share of AFOP common
stock for each share then owned. Shares issued pursuant to the
stock split will be issued on September 16, 2013.
Peter Chang, President and Chief Executive Officer, commented,
"Today's stock split demonstrates our Company's commitment to
building value for our shareholders and our confidence in the
fundamentals and growth potential of both our business and the
optical communication industry. In addition, the split is intended
to further improve our liquidity and to make our shares more
accessible to institutional and individual shareholders."
About AFOP
Founded in 1995, Alliance Fiber Optic Products, Inc. designs,
manufactures and markets a broad range of high performance fiber
optic components and integrated modules. AFOP's products are used
by leading and emerging communications equipment manufacturers to
deliver optical networking systems to the long-haul, enterprise,
metropolitan and last mile access segments of the communications
network. AFOP offers a broad product line of passive optical
components including interconnect systems, couplers and splitters,
thin film CWDM and DWDM components and modules, optical
attenuators, and micro-optics devices. AFOP is headquartered in
Sunnyvale, California, with manufacturing and product development
capabilities in the United States, Taiwan and China. AFOP's website
is located at http://www.afop.com.
Except for the historical information contained herein, the
matters set forth in this press release, including statements as to
our expectations regarding the expected benefit of the stock
dividend, future revenue levels, profits and margins and the time
periods thereof, our operational excellence, its impact on margins,
and our ability to sustain the same, and our expectations regarding
customer demand, are forward looking statements within the meaning
of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, including, but not limited to general economic
conditions and trends, trends in demand for bandwidth, the impact
of competitive products and pricing, timely introduction of new
technologies, timely design acceptance by our customers, the
acceptance of new products and technologies by our customers,
customer demand for our products, the timing of customer orders,
loss of key customers, our ability to ramp new products into volume
production, the mix of products sold and product pricing, the costs
associated with running our operations, industry-wide shifts in
supply and demand for optical components and modules, industry
overcapacity and demand for bandwidth, the success of cost control
initiatives, our ability to obtain and maintain operational
efficiencies, financial stability in foreign markets, and other
risks detailed from time to time in our SEC reports, including
AFOP's quarterly report on Form 10-Q for the quarter ended June 30,
2013. These forward-looking statements speak only as of the date
hereof. AFOP disclaims any intention or obligation to update or
revise any forward-looking statements.
CONTACT: Anita Ho
Acting Chief Financial Officer
Alliance Fiber Optic Products, Inc.
Phone: 408-736-6900 x168
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