Acacia Communications, Inc. ACIA shares are in great demand Wednesday after the company's 8-K reported preliminary results for the third quarter.
The company expects revenue between $130 and $133 million for the third quarter, while net income is estimated to be $28-$31 million or EPS of $0.68-$0.75. On an adjusted basis, the company sees EPS between $0.83 and $0.90.
This is the second time in less than 10 days that the company resorted to lifting of its forecast for the third quarter.
Additionally, Acacia announced the launching of a follow-on public issue of 4.5 million shares. This included 3.289 million shares of selling stockholders.
One of the reasons is that the improved results could trigger demand for Acacia shares. This could result in better than expected pricing for its public offering.
The stock surged $11.99, or 11.75 percent, to $113.99.
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