High Purity Quartz (HPQ) Market Research 2025-2032: Industry Analysis, Size, Shares, Growth, Trends, and Market Forecasts
Growing Demand and a Maturing Technological Landscape That is Fostering Scalability and Affordability in HPQ Production
Dublin, June 10, 2025 (GLOBE NEWSWIRE) -- The "High Purity Quartz Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2025-2032 - (By Form, End Use, Distribution Channel, Geographic Coverage and By Company)" report has been added to ResearchAndMarkets.com's offering.The global high purity quartz (HPQ) market is poised for notable expansion, projected to grow from US$ 868.9 Mn in 2025 to an estimated US$ 1.38 billion by 2032. This promising growth trajectory, marked by a steady CAGR of 6.9%, is underpinned by increasing demand from key industries such as semiconductors, solar energy, and telecommunications.Key Market DriversOne of the key forces propelling the HPQ market is the surge in solar panel installations across emerging markets. In 2023 alone, global solar additions reached 447 GW, pushing total capacity to 1.6 TW. China alone contributed 253 GW, highlighting its dominance in global solar adoption. This rising emphasis on renewable energy infrastructure is directly fueling the demand for HPQ, particularly in the manufacturing of ultra-pure silicon wafers for photovoltaic cells.Simultaneously, the relentless expansion of the semiconductor sector continues to generate demand for high-grade quartz. With growing applications in AI, IoT, autonomous vehicles, and advanced consumer electronics, the semiconductor industry's need for defect-free materials like HPQ remains strong. The telecom and optics industry, too, is emerging as a growth driver, requiring ultra-pure quartz for high-performance fiber optic cables and optical components.Business OpportunityTechnological advancements are creating substantial opportunities in the HPQ market. Innovations in purification techniques - including plasma-based refinement, hydrothermal processing, and AI-enabled quality control - are significantly reducing production costs while maintaining ultra-high purity. Companies adopting automated purification processes and modern leaching methods are managing to reduce energy consumption and waste, thereby making HPQ more accessible to broader markets.The use of advanced monitoring systems allows for better yield, consistency, and cost-efficiency, particularly in achieving grades beyond 99.995% purity. As a result, new entrants and regional players are finding feasible entry points into the market, intensifying competition and expanding supply networks. These trends signal not only growing demand but also a maturing technological landscape that is fostering scalability and affordability in HPQ production.Market ChallengesDespite its promising growth outlook, the HPQ market faces certain hurdles. The primary challenge lies in the high cost of achieving ultra-pure quartz through complex purification processes such as thermal treatment, chemical leaching, and filtration. These methods are both energy-intensive and expensive, requiring significant capital investment.Moreover, the availability of raw materials is constrained by the limited number of high-quality quartz deposits globally. Key sources include regions in the United States (notably Spruce Pine, North Carolina), Norway, and Australia. The geographical concentration of these reserves makes the market vulnerable to supply disruptions, such as the impact of Hurricane Helene on Spruce Pine's mining operations in 2024. Limited production capacity, coupled with high operational costs, continues to hamper broader market penetration.Regional AnalysisThe Asia Pacific region stands out as the largest consumer of high purity quartz, driven by robust growth in both semiconductor manufacturing and solar energy adoption. Countries like China, South Korea, Japan, and Taiwan are global leaders in chip production and solar panel manufacturing. Notable investments such as Micron Technology's US$ 825 million semiconductor facility in India illustrate the region's long-term commitment to electronic manufacturing and renewable energy, thus reinforcing demand for HPQ.In Europe, the high purity quartz market is buoyed by the region's aggressive renewable energy targets. The European Union's goal for solar to account for 20% of electricity generation has catalyzed solar panel manufacturing, with countries such as Germany, France, and the UK leading the charge. A notable 26% increase in solar photovoltaic generation in 2022 illustrates the continent's rising dependence on HPQ for clean energy initiatives.North America, meanwhile, holds a pivotal position in HPQ production, thanks to the world-renowned Spruce Pine mines in North Carolina. This region supplies up to 90% of the globe's ultra-pure quartz. The geological uniqueness of Spruce Pine ensures unmatched purity, positioning North America as a strategic supplier, especially to the global semiconductor industry. Investment efforts by companies such as Sibelco to expand production capacities are expected to reinforce the region's dominance.Key Players
The global HPQ market is characterized by the presence of several key players that are focused on research, capacity expansion, and strategic collaborations. These include:
Sibelco
High Purity Quartz Pty. Ltd.
Creswick Quartz
The Quartz Corporation
Nordic Mining ASA
Momentive Performance Materials Inc.
Australian Silica Quartz Group Ltd.
Fineton Development Limited
Solar Quartz Technologies
Companies are increasingly investing in R&D to refine purification technologies and reduce production costs. At the same time, partnerships and joint ventures are being forged to secure raw material sources and expand into new geographical markets.Notably, in September 2024, Global Surfaces FZE launched the Middle East's largest engineered surfaces facility in the UAE, while Rover Critical Minerals Corp. moved to acquire the Silicon Valley Silica Project in British Columbia, which is estimated to host over 12 kilometers of high-purity quartzite.An Expert's EyeMarket analysts emphasize that HPQ's pricing varies significantly by grade and application. For instance, quartz used in lighting applications can be priced around US$ 650 per ton, whereas Grade-1 for telecom and optics reaches US$ 5,000 per ton. The most premium grades - Grade-2 and Grade-3 - used in semiconductors and photovoltaic cells can fetch as much as US$ 20,000 per ton. This reflects the value of HPQ in critical applications and underscores the market's potential profitability.
The global high purity quartz market is segmented as follows:
By Grade
HPQ Powder
Grade I
Grade II
Grade III
By Application
Semiconductor
Solar
Lighting
Telecom & Optics
Microelectronics
Others
By Region
North America
Europe
Asia Pacific
Latin America
The Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/g2el03
About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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These measures include net adjusted earnings, adjusted net earnings per share, adjusted gross profit, adjusted gross margin, adjusted SG&A, and adjusted operating income, among others. Management uses these non-GAAP financial measures in making financial, operational, and planning decisions to evaluate the Company's ongoing performance. Management also uses these adjusted financial measures to discuss its business with investment and other financial institutions, its board of directors and others. Reconciliations of these adjusted measures to the most directly comparable financial measures calculated in accordance with GAAP are presented in tables included at the end of this release. Safe Harbor This press release includes statements that constitute forward-looking statements within the meaning of the federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. We intend for all forward-looking statements contained herein, in our press releases or on our website, and all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf, to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Such statements are subject to a number of risks, uncertainties and assumptions including, without limitation: changes in the trade policies of the United States and those of other nations, including risks of potential future changes or worsening trade tensions between the United States and other countries and the impact of uncertainties surrounding U.S. trade policy on consumer sentiment; demand for our products, which may be impacted by macroeconomic factors that may impact consumer discretionary spending and pricing levels for apparel and related products, many of which may be impacted by inflationary pressures, tariffs, volatile and/or elevated interest rates, concerns about a potential global recession, the stability of the banking industry or general economic uncertainty, and the effectiveness of measures to mitigate the impact of these factors; risks relating to our product sourcing decentralization efforts, including our ability to identify alternative countries to source and produce our products and to successfully implement changes in our supply chain; possible changes in governmental monetary and fiscal policies, including, but not limited to, Federal Reserve policies in connection with continued inflationary pressures; competitive conditions and/or evolving consumer shopping patterns, particularly in a highly promotional retail environment; acquisition activities (such as the acquisition of Johnny Was); global supply chain constraints that have, and could continue, to affect freight, transit, and other costs; costs and availability of labor and freight deliveries, including our ability to appropriately staff our retail stores and food & beverage locations; costs of products as well as the raw materials used in those products, as well as our ability to pass along price increases to consumers; energy costs; our ability to respond to rapidly changing consumer expectations; unseasonal or extreme weather conditions or natural disasters, such as the 2024 hurricanes impacting the Southeastern United States; lack of or insufficient insurance coverage; the ability of business partners, including suppliers, vendors, wholesale customers, licensees, logistics providers and landlords, to meet their obligations to us and/or continue our business relationship to the same degree as they have historically; hiring of, retention of and disciplined execution by key management and other critical personnel; cybersecurity breaches and ransomware attacks, as well as our and our third party vendors' ability to properly collect, use, manage and secure business, consumer and employee data and maintain continuity of our information technology systems; the effectiveness of our advertising initiatives in defining, launching and communicating brand-relevant customer experiences; the level of our indebtedness, including the risks associated with heightened interest rates on the debt and the potential impact on our ability to operate and expand our business; the timing of shipments requested by our wholesale customers; fluctuations and volatility in global financial and/or real estate markets; our ability to identify and secure suitable locations for new retail store and food & beverage openings; the timing and cost of retail store and food & beverage location openings and remodels, technology implementations and other capital expenditures; the timing, cost and successful implementation of changes to our distribution network; the effectiveness of recent, focused efforts to reassess and realign our operating costs in light of revenue trends, including potential disruptions to our operations as a result of these efforts; pandemics or other public health crises; expected outcomes of pending or potential litigation and regulatory actions; consumer, employee and regulatory focus on sustainability issues and practices, including failures by our suppliers to adhere to our vendor code of conduct; the regulation or prohibition of goods sourced, or containing raw materials or components, from certain regions and our ability to evidence compliance; access to capital and/or credit markets; factors that could affect our consolidated effective tax rate, including the impact of potential changes in U.S. tax laws and regulations; the risk of impairment to goodwill and other intangible assets such as the recent impairment charges incurred in our Johnny Was segment; and geopolitical risks, including ongoing challenges between the United States and China and those related to the ongoing war in Ukraine, the Israel-Hamas war and the conflict in the Red Sea region. Forward-looking statements reflect our expectations at the time such forward-looking statements are made, based on information available at such time, and are not guarantees of performance. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Important factors relating to these risks and uncertainties include, but are not limited to, those described in Part I. Item 1A. Risk Factors contained in our Fiscal 2024 Form 10-K, and those described from time to time in our future reports filed with the SEC. We caution that one should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We disclaim any intention, obligation or duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Contact:E-mail: Brian SmithInvestorRelations@ Industries, Inc. Consolidated Balance Sheets (in thousands, except par amounts) (unaudited) May 3, May 4, 2025 2024 ASSETS Current Assets Cash and cash equivalents $ 8,175 $ 7,657 Receivables, net 105,501 87,918 Inventories, net 162,334 144,373 Income tax receivable 271 19,437 Prepaid expenses and other current assets 41,253 38,978 Total Current Assets $ 317,534 $ 298,363 Property and equipment, net 281,504 193,702 Intangible assets, net 255,768 259,147 Goodwill 27,403 27,185 Operating lease assets 372,452 319,308 Other assets, net 63,195 41,183 Deferred income taxes 21,850 18,088 Total Assets $ 1,339,706 $ 1,156,976 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable $ 86,212 $ 73,755 Accrued compensation 21,417 19,340 Current portion of operating lease liabilities 64,119 65,366 Accrued expenses and other liabilities 69,007 67,124 Total Current Liabilities $ 240,755 $ 225,585 Long-term debt 117,714 18,630 Non-current portion of operating lease liabilities 360,935 296,080 Other non-current liabilities 27,879 23,806 Shareholders' Equity Common stock, $1.00 par value per share 14,875 15,634 Additional paid-in capital 194,893 183,126 Retained earnings 385,761 396,933 Accumulated other comprehensive loss (3,106 ) (2,818 ) Total Shareholders' Equity $ 592,423 $ 592,875 Total Liabilities and Shareholders' Equity $ 1,339,706 $ 1,156,976Oxford Industries, Inc. Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited) First Quarter Fiscal 2025 Fiscal 2024 Net sales $ 392,861 $ 398,184 Cost of goods sold 140,575 139,823 Gross profit $ 252,286 $ 258,361 SG&A 222,708 213,103 Royalties and other operating income 6,628 7,193 Operating income $ 36,206 $ 52,451 Interest expense, net 1,726 874 Earnings before income taxes $ 34,480 $ 51,577 Income tax expense 8,299 13,204 Net earnings $ 26,181 $ 38,373 Net earnings per share: Basic $ 1.72 $ 2.46 Diluted $ 1.70 $ 2.42 Weighted average shares outstanding: Basic 15,222 15,597 Diluted 15,404 15,844 Dividends declared per share $ 0.69 $ 0.67Oxford Industries, Inc. Consolidated Statements of Cash Flows (in thousands) (unaudited) First Quarter Fiscal 2025 Fiscal 2024 Cash Flows From Operating Activities: Net earnings $ 26,181 $ 38,373 Adjustments to reconcile net earnings to cash flows from operating activities: Depreciation 14,529 13,586 Amortization of intangible assets 2,434 2,955 Equity compensation expense 3,605 4,051 Amortization and write-off of deferred financing costs 96 96 Deferred income taxes (1,440 ) 6,059 Changes in operating assets and liabilities, net of acquisitions and dispositions: Receivables, net (33,078 ) (24,571 ) Inventories, net 5,271 15,151 Income tax receivable 5,053 112 Prepaid expenses and other current assets (2,973 ) 4,051 Current liabilities (7,376 ) (15,365 ) Other balance sheet changes (16,244 ) (11,575 ) Cash (used in) provided by operating activities $ (3,942 ) $ 32,923 Cash Flows From Investing Activities: Acquisitions, net of cash acquired (28 ) (240 ) Purchases of property and equipment (23,427 ) (11,894 ) Cash used in investing activities $ (23,455 ) $ (12,134 ) Cash Flows From Financing Activities: Repayment of revolving credit arrangements (94,125 ) (136,216 ) Proceeds from revolving credit arrangements 180,733 125,542 Repurchase of common stock (50,526 ) — Proceeds from issuance of common stock 482 513 Cash dividends paid (10,381 ) (10,549 ) Other financing activities (224 ) — Cash provided by (used in) financing activities $ 25,959 $ (20,710 ) Net change in cash and cash equivalents (1,438 ) 79 Effect of foreign currency translation on cash and cash equivalents 143 (26 ) Cash and cash equivalents at the beginning of year 9,470 7,604 Cash and cash equivalents at the end of period $ 8,175 $ 7,657Oxford Industries, Inc. Reconciliations of Certain Non-GAAP Financial Information (in millions, except per share amounts) (unaudited) First Quarter AS REPORTED Fiscal 2025 Fiscal 2024 % Change Tommy Bahama Net sales $ 216.2 $ 225.6 (4.2 )% Gross profit $ 139.7 $ 148.3 (5.8 )% Gross margin 64.6 % 65.7 % Operating income $ 30.7 $ 42.6 (27.9 )% Operating margin 14.2 % 18.9 % Lilly Pulitzer Net sales $ 99.0 $ 88.4 12.0 % Gross profit $ 64.9 $ 59.3 9.5 % Gross margin 65.6 % 67.0 % Operating income $ 18.1 $ 15.5 16.7 % Operating margin 18.3 % 17.6 % Johnny Was Net sales $ 43.5 $ 51.2 (15.1 )% Gross profit $ 28.1 $ 33.2 (15.4 )% Gross margin 64.7 % 64.9 % Operating (loss) income $ (3.4 ) $ 0.3 (1124.0 )% Operating margin (7.8 )% 0.7 % Emerging Brands Net sales $ 34.2 $ 33.0 3.8 % Gross profit $ 20.3 $ 19.5 4.0 % Gross margin 59.3 % 59.2 % Operating income $ 1.9 $ 3.8 (49.8 )% Operating margin 5.6 % 11.5 % Corporate and Other Net sales $ (0.1 ) $ (0.1 ) NM Gross profit $ (0.8 ) $ (2.0 ) NM Operating loss $ (11.2 ) $ (9.9 ) NM Consolidated Net sales $ 392.9 $ 398.2 (1.3 )% Gross profit $ 252.3 $ 258.4 (2.4 )% Gross margin 64.2 % 64.9 % SG&A $ 222.7 $ 213.1 4.5 % SG&A as % of net sales 56.7 % 53.5 % Operating income $ 36.2 $ 52.5 (31.0 )% Operating margin 9.2 % 13.2 % Earnings before income taxes $ 34.5 $ 51.6 (33.1 )% Net earnings $ 26.2 $ 38.4 (31.8 )% Net earnings per diluted share $ 1.70 $ 2.42 (29.8 )% Weighted average shares outstanding - diluted 15.4 15.8 (2.8 )%First Quarter ADJUSTMENTS Fiscal 2025 Fiscal 2024 % Change LIFO adjustments(1) $ 0.5 $ 2.2 Amortization of Johnny Was intangible assets(2) $ 1.9 $ 2.7 Impact of income taxes(3) $ (0.6 ) $ (1.3 ) Adjustment to net earnings(4) $ 1.8 $ 3.7 AS ADJUSTED Tommy Bahama Net sales $ 216.2 $ 225.6 (4.2 )% Gross profit $ 139.7 $ 148.3 (5.8 )% Gross margin 64.6 % 65.7 % Operating income $ 30.7 $ 42.6 (27.9 )% Operating margin 14.2 % 18.9 % Lilly Pulitzer Net sales $ 99.0 $ 88.4 12.0 % Gross profit $ 64.9 $ 59.3 9.5 % Gross margin 65.6 % 67.0 % Operating income $ 18.1 $ 15.5 16.7 % Operating margin 18.3 % 17.6 % Johnny Was Net sales $ 43.5 $ 51.2 (15.1 )% Gross profit $ 28.1 $ 33.2 (15.4 )% Gross margin 64.7 % 64.9 % Operating (loss) income $ (1.5 ) $ 3.1 (148.4 )% Operating margin (3.4 )% 6.0 % Emerging Brands Net sales $ 34.2 $ 33.0 3.8 % Gross profit $ 20.3 $ 19.5 4.0 % Gross margin 59.3 % 59.2 % Operating income $ 1.9 $ 3.8 (49.8 )% Operating margin 5.6 % 11.5 % Corporate and Other Net sales $ (0.1 ) $ (0.1 ) NM Gross profit $ (0.3 ) $ 0.2 NM Operating loss $ (10.7 ) $ (7.6 ) NM Consolidated Net sales $ 392.9 $ 398.2 (1.3 )% Gross profit $ 252.8 $ 260.6 (3.0 )% Gross margin 64.3 % 65.4 % SG&A $ 220.8 $ 210.4 4.9 % SG&A as % of net sales 56.2 % 52.8 % Operating income $ 38.6 $ 57.4 (32.8 )% Operating margin 9.8 % 14.4 % Earnings before income taxes $ 36.9 $ 56.5 (34.8 )% Net earnings $ 28.0 $ 42.1 (33.5 )% Net earnings per diluted share $ 1.82 $ 2.66 (31.6 )%First Quarter First Quarter First Quarter Fiscal 2025 Fiscal 2025 Fiscal 2024 Actual Guidance(5) Actual Net earnings per diluted share: GAAP basis $ 1.70 $ 1.61 - 1.81 $ 2.42 LIFO adjustments(1)(6) 0.02 0.00 0.11 Amortization of Johnny Was intangible assets(2)(6) 0.09 0.09 0.13 As adjusted(4) $ 1.82 $ $1.70 - $1.90 $ 2.66 Second Quarter Second Quarter Fiscal 2025 Fiscal 2024 Guidance(7) Actual Net earnings per diluted share: GAAP basis $ 0.92 - 1.12 $ 2.57 LIFO adjustments(8) 0.00 0.03 Amortization of Johnny Was intangible assets(2)(6) 0.13 0.13 Johnny Was distribution center relocation costs(9)(6) 0.00 0.04 As adjusted(4) $ 1.05 - 1.25 $ 2.77 Fiscal 2025 Fiscal 2024 Guidance(7) Actual Net earnings per diluted share: GAAP basis $ 2.28 - 2.68 $ 5.87 LIFO adjustments(8) 0.02 0.16 Amortization of Johnny Was intangible assets(2)(6) 0.50 0.51 Johnny Was distribution center relocation costs(9)(6) 0.00 0.14 As adjusted(4) $ 2.80 - 3.20 $ 6.68 (1) LIFO adjustments represents the impact of LIFO accounting adjustments. These adjustments are included in cost of goods sold in Corporate and Other.(2) Amortization of Johnny Was intangible assets represents the amortization related to intangible assets acquired as part of the Johnny Was acquisition. These charges are included in SG&A in Johnny Was.(3) Impact of income taxes represents the estimated tax impact of the above adjustments based on the estimated applicable tax rate on current year earnings.(4) Amounts in columns may not add due to rounding.(5) Guidance as issued on March 27, 2025.(6) Adjustments shown net of income taxes.(7) Guidance as issued on June 11, 2025.(8) No estimate for LIFO accounting adjustments is reflected in the guidance for any future periods.(9) Johnny Was distribution center relocation costs relate to the transition of Johnny Was distribution center operations from Los Angeles, California to Lyons, Georgia including systems integrations, employee bonuses and severance agreements, moving costs and occupancy expenses related to the vacated distribution centers. These charges are included in SG&A in Johnny Was. Direct to Consumer Location Count End of Q1 End of Q2 End of Q3 End of Q4 Fiscal 2024 Tommy Bahama Full-price retail store 102 103 106 106 Retail-food & beverage 23 23 25 24 Outlet 35 36 37 36 Total Tommy Bahama 160 162 168 166 Lilly Pulitzer full-price retail store 60 60 61 64 Johnny Was Full-price retail store 75 76 77 77 Outlet 3 3 3 3 Total Johnny Was 78 79 80 80 Emerging Brands Southern Tide full-price retail store 20 24 28 30 TBBC full-price retail store 4 5 5 5 Total Oxford 322 330 342 345 Fiscal 2025 Tommy Bahama Full-price retail store 103 Retail-food & beverage 26 Outlet 36 Total Tommy Bahama 165 Lilly Pulitzer full-price retail store 65 Johnny Was Full-price retail store 77 Outlet 3 Total Johnny Was 80 Emerging Brands Southern Tide full-price retail store 35 TBBC full-price retail store 8 Total Oxford 353Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Applied Optoelectronics Announces First Volume Shipment of Data Center Transceivers to Recently Engaged Major Hyperscale Customer
SUGAR LAND, Texas, June 11, 2025 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. ('AOI') (Nasdaq: AAOI), a leading provider of fiber-optic access network products for the internet datacenter, cable broadband, telecom and fiber-to-the-home (FTTH) markets, today announced the first volume shipment of high-speed data center transceivers to a recently re-engaged major hyperscale data center customer. This milestone is the first volume shipment of these advanced high-speed data center transceivers to this customer, and the first shipment of significant quantity to this customer in several years. 'Throughout the year, we have been expecting growth in data center transceiver sales, particularly in the second half of the year,' commented Dr. Thompson Lin, AOI's Founder, Chairman, and CEO. 'This first volume shipment to this customer represents a significant milestone on a journey to what we continue to expect to be significant business opportunities with this newly re-engaged customer. As we execute on our previously-announced US-based capacity expansion plan, we continue to expect shipments to this customer and other customers to increase in line with our previous commentary of a second-half ramp.' For more information about AOI's industry-leading line of advanced optical transceivers for AI-focused data centers, please refer to the information on AOI's website at About Applied Optoelectronics, Inc. Applied Optoelectronics, Inc. (AOI) is a leading developer and manufacturer of advanced optical products, including components, modules and equipment. AOI's products are the building blocks for broadband fiber access networks around the world, where they are used in the internet datacenter, CATV broadband, telecom and FTTH markets. AOI supplies optical networking lasers, components and equipment to tier-1 customers in all four of these markets. In addition to its corporate headquarters, wafer fab and advanced engineering and production facilities in Sugar Land, TX, AOI has engineering and manufacturing facilities in Taipei, Taiwan and Ningbo, China. For additional information, visit Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "could," "would," "target," "seek," "aim," "predicts," "think," "objectives," "optimistic," "new," "goal," "strategy," "potential," "is likely," "will," "expect," "plan," "project," "permit" or by other similar expressions that convey uncertainty of future events or outcomes. These statements include management's beliefs and expectations related to our outlook for the second quarter of 2025 and the remainder of 2025. Such forward-looking statements reflect the views of management at the time such statements are made. These forward-looking statements involve risks and uncertainties, as well as assumptions and current expectations, which could cause the company's actual results to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include but are not limited to: reduction in the size or quantity of customer orders; change in demand for the company's products due to industry conditions; changes in manufacturing operations; volatility in manufacturing costs; delays in shipments of products; disruptions in the supply chain; change in the rate of design wins or the rate of customer acceptance of new products; the company's reliance on a small number of customers for a substantial portion of its revenues; potential pricing pressure; a decline in demand for our customers' products or their rate of deployment of their products; general conditions in the internet datacenter, cable television (CATV) broadband, telecom, or fiber-to-the-home (FTTH) markets; changes in the world economy (particularly in the United States and China); changes in the regulation and taxation of international trade, including the imposition of tariffs; changes in currency exchange rates; the negative effects of seasonality; and other risks and uncertainties described more fully in the company's documents filed with or furnished to the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. More information about these and other risks that may impact the company's business are set forth in the "Risk Factors" section of the company's quarterly and annual reports on file with the Securities and Exchange Commission. You should not rely on forward-looking statements as predictions of future events. All forward-looking statements in this press release are based upon information available to us as of the date hereof, and qualified in their entirety by this cautionary statement. Except as required by law, we assume no obligation to update forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in the company's expectations. Investor Relations Contact: The Blueshirt Group, Investor Relations Lindsay Savarese +1-212-331-8417ir@ in to access your portfolio
